Ninepoint Partners LP Sells 69,991 Shares of Enbridge Inc. (NYSE:ENB)

Ninepoint Partners LP lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 20.6% during the 4th quarter, HoldingsChannel reports. The fund owned 270,000 shares of the pipeline company’s stock after selling 69,991 shares during the period. Enbridge accounts for approximately 1.0% of Ninepoint Partners LP’s portfolio, making the stock its 11th biggest holding. Ninepoint Partners LP’s holdings in Enbridge were worth $9,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ENB. BOK Financial Private Wealth Inc. purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $25,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC increased its holdings in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after buying an additional 644 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new stake in Enbridge during the second quarter valued at approximately $26,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB traded up $0.89 during mid-day trading on Friday, reaching $34.79. The stock had a trading volume of 3,596,392 shares, compared to its average volume of 5,429,114. The firm has a market cap of $73.96 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 3.15 and a beta of 0.84. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The business has a fifty day moving average of $35.02 and a 200 day moving average of $34.64. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.62 billion. Equities analysts predict that Enbridge Inc. will post 2.12 EPS for the current year.

Wall Street Analyst Weigh In

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

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.