Stonegate Investment Group LLC Sells 2,202 Shares of Enbridge Inc. (NYSE:ENB)

Stonegate Investment Group LLC decreased its holdings in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 11.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,430 shares of the pipeline company’s stock after selling 2,202 shares during the period. Stonegate Investment Group LLC’s holdings in Enbridge were worth $628,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quilter Plc purchased a new stake in shares of Enbridge during the first quarter valued at approximately $293,879,000. Coppell Advisory Solutions Corp. bought a new position in shares of Enbridge during the fourth quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in Enbridge in the fourth quarter worth $25,000. Coppell Advisory Solutions LLC bought a new stake in Enbridge in the second quarter valued at $26,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Enbridge in the first quarter worth about $27,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of $55.20.

Read Our Latest Analysis on Enbridge

Enbridge Stock Performance

Shares of NYSE ENB opened at $35.86 on Wednesday. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The firm has a market capitalization of $76.22 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 3.39 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $35.21 and a 200 day moving average of $34.62.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. On average, research analysts anticipate that Enbridge Inc. will post 2.11 earnings per share for the current year.

Enbridge Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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