Livingston Group Asset Management CO operating as Southport Capital Management trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,195 shares of the pipeline company’s stock after selling 1,549 shares during the quarter. Enbridge makes up approximately 1.2% of Livingston Group Asset Management CO operating as Southport Capital Management’s investment portfolio, making the stock its 16th biggest holding. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Enbridge were worth $2,690,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. AE Wealth Management LLC increased its holdings in Enbridge by 2.4% during the fourth quarter. AE Wealth Management LLC now owns 31,348 shares of the pipeline company’s stock valued at $974,000 after buying an additional 740 shares during the period. Stock Yards Bank & Trust Co. increased its holdings in Enbridge by 25.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 9,448 shares of the pipeline company’s stock valued at $294,000 after buying an additional 1,930 shares during the period. Morgan Stanley increased its holdings in Enbridge by 11.0% during the third quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock valued at $154,592,000 after buying an additional 472,660 shares during the period. Freestone Capital Holdings LLC purchased a new position in Enbridge during the fourth quarter valued at approximately $3,328,000. Finally, Osher Van de Voorde Investment Management increased its holdings in Enbridge by 23.8% during the fourth quarter. Osher Van de Voorde Investment Management now owns 238,806 shares of the pipeline company’s stock valued at $7,422,000 after buying an additional 45,982 shares during the period. 56.43% of the stock is currently owned by institutional investors.
ENB has been the topic of several analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Scotia Howard Weill lowered shares of Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, March 4th. Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. Finally, National Bank Financial raised shares of Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $46.46.
Shares of ENB traded up $0.24 during trading hours on Wednesday, reaching $37.35. 746,675 shares of the company traded hands, compared to its average volume of 2,710,813. The firm has a market capitalization of $75.08 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.58 and a quick ratio of 0.49. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $37.69.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 15th. The pipeline company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The firm had revenue of $8.75 billion for the quarter, compared to analyst estimates of $12.27 billion. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 1.72 EPS for the current fiscal year.
In related news, insider Cynthia L. Hansen acquired 799 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $49.13 per share, with a total value of $39,254.87. Following the completion of the acquisition, the insider now directly owns 105,423 shares of the company’s stock, valued at $5,179,431.99. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William T. Yardley sold 14,900 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total transaction of $551,002.00. Following the sale, the insider now directly owns 94,770 shares in the company, valued at $3,504,594.60. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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