Beck Mack & Oliver LLC Sells 11,642 Shares of Enbridge Inc $ENB

Beck Mack & Oliver LLC lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,952 shares of the pipeline company’s stock after selling 11,642 shares during the period. Beck Mack & Oliver LLC’s holdings in Enbridge were worth $16,952,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its position in Enbridge by 29.9% during the third quarter. Alliancebernstein L.P. now owns 233,040 shares of the pipeline company’s stock valued at $11,759,000 after purchasing an additional 53,593 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Enbridge by 32.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 859,185 shares of the pipeline company’s stock worth $47,680,000 after purchasing an additional 209,465 shares during the period. Lazard Asset Management LLC bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $406,000. Creative Planning increased its position in shares of Enbridge by 10.9% during the 3rd quarter. Creative Planning now owns 362,641 shares of the pipeline company’s stock valued at $18,299,000 after purchasing an additional 35,509 shares during the last quarter. Finally, Imprint Wealth LLC purchased a new stake in Enbridge during the 3rd quarter valued at $31,000. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENB has been the subject of a number of analyst reports. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Performance

Shares of Enbridge stock opened at $54.09 on Friday. The stock’s fifty day moving average is $50.21 and its two-hundred day moving average is $48.81. The company has a market capitalization of $118.02 billion, a PE ratio of 23.52 and a beta of 0.67. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.42.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period last year, the company earned $0.75 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.