Enbridge Inc $ENB Position Lowered by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 37.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,640 shares of the pipeline company’s stock after selling 12,182 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Enbridge were worth $960,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Abundance Wealth Counselors grew its holdings in shares of Enbridge by 0.8% during the third quarter. Abundance Wealth Counselors now owns 28,678 shares of the pipeline company’s stock worth $1,333,000 after purchasing an additional 228 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Enbridge by 12.0% in the third quarter. Oppenheimer & Co. Inc. now owns 385,768 shares of the pipeline company’s stock valued at $17,934,000 after buying an additional 41,197 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Enbridge by 1.2% in the third quarter. Verdence Capital Advisors LLC now owns 43,891 shares of the pipeline company’s stock valued at $2,041,000 after buying an additional 518 shares during the period. apricus wealth LLC increased its stake in shares of Enbridge by 7.9% in the third quarter. apricus wealth LLC now owns 31,235 shares of the pipeline company’s stock valued at $1,452,000 after buying an additional 2,290 shares during the period. Finally, Miller Howard Investments Inc. NY raised its holdings in Enbridge by 4.0% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 1,212,807 shares of the pipeline company’s stock valued at $56,383,000 after buying an additional 46,227 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ENB. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Enbridge in a report on Thursday, October 22nd. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. BMO Capital Markets upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 price target for the company in a research report on Monday, September 14th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Enbridge in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.88.

Enbridge Trading Up 0.3%

Shares of ENB stock opened at $48.41 on Wednesday. The business’s 50 day simple moving average is $48.39 and its 200 day simple moving average is $52.09. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period in the prior year, the company posted $0.65 EPS. As a group, equities analysts anticipate that Enbridge Inc will post 2.08 EPS for the current year.

About Enbridge

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.