Adell Harriman & Carpenter Inc. Decreases Stake in Enbridge Inc $ENB

Adell Harriman & Carpenter Inc. lowered its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,456 shares of the pipeline company’s stock after selling 1,160 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Enbridge were worth $5,006,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC acquired a new position in Enbridge in the 4th quarter valued at $261,000. Koshinski Asset Management Inc. increased its position in Enbridge by 30.6% during the 1st quarter. Koshinski Asset Management Inc. now owns 6,726 shares of the pipeline company’s stock worth $298,000 after purchasing an additional 1,574 shares in the last quarter. Mather Group LLC. grew its position in Enbridge by 54.8% in the first quarter. Mather Group LLC. now owns 2,016 shares of the pipeline company’s stock valued at $89,000 after acquiring an additional 714 shares in the last quarter. Astoria Portfolio Advisors LLC. purchased a new position in shares of Enbridge during the 1st quarter valued at approximately $235,000. Finally, Vontobel Holding Ltd. lifted its stake in Enbridge by 98.8% during the first quarter. Vontobel Holding Ltd. now owns 11,481 shares of the pipeline company’s stock worth $508,000 after purchasing an additional 5,706 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.0%

NYSE:ENB opened at $46.64 on Thursday. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock has a market capitalization of $101.70 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 4.27 and a beta of 0.78. The business’s 50-day simple moving average is $48.42 and its 200-day simple moving average is $46.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter last year, the firm earned $0.58 EPS. Sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ENB. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.50.

Enbridge 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.