Enbridge Inc. (NYSE:ENB) Holdings Cut by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its holdings in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,028,327 shares of the pipeline company’s stock after selling 54,830 shares during the period. DAVENPORT & Co LLC’s holdings in Enbridge were worth $73,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ENB. SVB Wealth LLC increased its stake in shares of Enbridge by 3.1% in the first quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after purchasing an additional 297 shares during the period. North Star Investment Management Corp. increased its stake in shares of Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 300 shares during the period. Independence Bank of Kentucky increased its stake in shares of Enbridge by 25.3% in the third quarter. Independence Bank of Kentucky now owns 1,681 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 339 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares during the period. Finally, Marino Stram & Associates LLC increased its stake in shares of Enbridge by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 344 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on Enbridge

Enbridge Price Performance

NYSE:ENB traded up $0.03 during trading hours on Tuesday, reaching $35.86. 4,438,118 shares of the company’s stock were exchanged, compared to its average volume of 5,503,099. The company has a market capitalization of $76.22 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The business’s 50-day simple moving average is $35.21 and its two-hundred day simple moving average is $34.62.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $9.62 billion. Sell-side analysts expect that Enbridge Inc. will post 2.11 EPS for the current fiscal year.

Enbridge Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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