Fox Run Management L.L.C. Trims Position in Enbridge Inc. (NYSE:ENB)

Fox Run Management L.L.C. decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 67.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,879 shares of the pipeline company’s stock after selling 20,258 shares during the period. Fox Run Management L.L.C.’s holdings in Enbridge were worth $419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC grew its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in Enbridge in the 4th quarter valued at $29,000. Wintrust Investments LLC grew its position in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. raised its position in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of Enbridge in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ENB. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada boosted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Up 0.4 %

Shares of NYSE ENB opened at $44.44 on Wednesday. The stock has a market capitalization of $96.84 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78. The firm has a 50-day moving average price of $43.48 and a 200 day moving average price of $42.42. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the firm posted $0.64 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

About Enbridge

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.