Insigneo Advisory Services LLC Lowers Holdings in Enbridge Inc. (NYSE:ENB)

Insigneo Advisory Services LLC lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 22.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,421 shares of the pipeline company’s stock after selling 2,946 shares during the period. Insigneo Advisory Services LLC’s holdings in Enbridge were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Evergreen Capital Management LLC lifted its holdings in shares of Enbridge by 3.6% in the fourth quarter. Evergreen Capital Management LLC now owns 121,304 shares of the pipeline company’s stock worth $5,147,000 after buying an additional 4,239 shares in the last quarter. Finward Bancorp bought a new stake in Enbridge in the 4th quarter valued at $419,000. CacheTech Inc. lifted its stake in Enbridge by 12.9% in the 4th quarter. CacheTech Inc. now owns 17,254 shares of the pipeline company’s stock worth $732,000 after purchasing an additional 1,973 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Enbridge by 4.2% during the 4th quarter. Guggenheim Capital LLC now owns 28,270 shares of the pipeline company’s stock valued at $1,199,000 after purchasing an additional 1,128 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC boosted its holdings in shares of Enbridge by 107.8% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 32,163 shares of the pipeline company’s stock valued at $1,364,000 after purchasing an additional 16,684 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of research analyst reports. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. Royal Bank of Canada boosted their price target on shares of 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 started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $45.32 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market capitalization of $98.76 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1-year low of $33.35 and a 1-year high of $46.12. The company’s 50-day moving average is $43.15 and its 200 day moving average is $42.75.

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

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.