Enbridge Inc. (NYSE:ENB) Holdings Decreased by Advocate Group LLC

Advocate Group LLC decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,706 shares of the pipeline company’s stock after selling 736 shares during the quarter. Enbridge accounts for approximately 1.6% of Advocate Group LLC’s holdings, making the stock its 17th biggest position. Advocate Group LLC’s holdings in Enbridge were worth $7,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in Enbridge by 109,143.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock valued at $1,895,102,000 after purchasing an additional 48,423,715 shares in the last quarter. Wellington Management Group LLP grew its stake in Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after purchasing an additional 28,076,386 shares in the last quarter. Norges Bank purchased a new position in Enbridge in the fourth quarter valued at about $723,255,000. Vanguard Group Inc. grew its stake in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Enbridge by 10.3% in the second quarter. 1832 Asset Management L.P. now owns 30,213,371 shares of the pipeline company’s stock valued at $1,122,427,000 after purchasing an additional 2,831,889 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB traded up $0.19 during trading hours on Friday, hitting $36.18. 3,883,746 shares of the company’s stock were exchanged, compared to its average volume of 4,253,327. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock has a market capitalization of $76.90 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 3.40 and a beta of 0.83. The company’s 50-day moving average price is $35.20 and its 200-day moving average price is $34.59.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. On average, sell-side analysts expect that Enbridge Inc. will post 2.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.