Enbridge Inc $ENB Shares Sold by Fullcircle Wealth LLC

Fullcircle Wealth LLC reduced its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 33,847 shares of the pipeline company’s stock after selling 3,149 shares during the quarter. Fullcircle Wealth LLC’s holdings in Enbridge were worth $1,578,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mutual Advisors LLC boosted its position in Enbridge by 25.3% during the 2nd quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock worth $2,338,000 after acquiring an additional 10,488 shares during the period. 111 Capital acquired a new position in shares of Enbridge during the second quarter valued at $1,887,000. Loudon Investment Management LLC raised its stake in shares of Enbridge by 40.6% during the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after purchasing an additional 8,600 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Enbridge by 37.7% during the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock valued at $3,256,000 after purchasing an additional 19,655 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Enbridge by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after purchasing an additional 32,268 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.50.

Enbridge Stock Performance

Shares of ENB opened at $46.60 on Tuesday. The firm’s 50 day moving average is $48.35 and its 200-day moving average is $46.72. The stock has a market capitalization of $101.64 billion, a P/E ratio of 22.96, a P/E/G ratio of 4.31 and a beta of 0.78. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54.

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

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.