Enbridge Inc $ENB Shares Sold by Tevis Investment Management

Tevis Investment Management reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,910 shares of the pipeline company’s stock after selling 2,982 shares during the period. Enbridge makes up about 1.8% of Tevis Investment Management’s investment portfolio, making the stock its 15th largest position. Tevis Investment Management’s holdings in Enbridge were worth $2,851,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dagco Inc. acquired a new position in Enbridge during the first quarter worth about $25,000. Whipplewood Advisors LLC grew its holdings in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge in the 1st quarter valued at $30,000. Finally, FNY Investment Advisers LLC purchased a new position in Enbridge in the 2nd quarter worth about $36,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 0.8%

NYSE:ENB opened at $47.27 on Tuesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The stock’s 50-day moving average is $48.45 and its two-hundred day moving average is $46.60. The stock has a market cap of $103.08 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 4.32 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the previous year, the business posted $0.58 EPS. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on ENB. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, October 8th. Finally, Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $60.50.

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.