Delta Asset Management LLC TN Reduces Stake in Enbridge Inc. (NYSE:ENB)

Delta Asset Management LLC TN reduced its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 471,636 shares of the pipeline company's stock after selling 8,643 shares during the quarter. Enbridge comprises 1.8% of Delta Asset Management LLC TN's holdings, making the stock its 18th largest holding. Delta Asset Management LLC TN's holdings in Enbridge were worth $20,012,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter worth $29,000. Wintrust Investments LLC increased its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after purchasing an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in shares of Enbridge during the 4th quarter worth about $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

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Enbridge Stock Up 0.2 %

Shares of ENB stock traded up $0.07 on Friday, hitting $44.43. The stock had a trading volume of 2,281,331 shares, compared to its average volume of 4,410,981. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78. The stock has a market cap of $96.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The business has a 50 day moving average of $43.49 and a 200 day moving average of $42.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same period in the previous year, the business posted $0.64 EPS. As a group, analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $67.00.

About Enbridge

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.