Octavia Wealth Advisors LLC Sells 1,058 Shares of Enbridge Inc. (NYSE:ENB)

Octavia Wealth Advisors LLC decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,218 shares of the pipeline company’s stock after selling 1,058 shares during the period. Octavia Wealth Advisors LLC’s holdings in Enbridge were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Enbridge by 109,143.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock valued at $1,895,102,000 after acquiring an additional 48,423,715 shares during the last quarter. Wellington Management Group LLP lifted its position in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Enbridge by 2.2% in the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after buying an additional 664,057 shares during the last quarter. Finally, Bank of Nova Scotia raised its holdings in shares of Enbridge by 5.1% in the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after buying an additional 1,353,753 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.20.

Enbridge Trading Down 2.3 %

Shares of Enbridge stock opened at $32.97 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm has a fifty day moving average price of $35.05 and a 200 day moving average price of $34.66. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30. The stock has a market cap of $70.09 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (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 business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Equities research analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current 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.