PNC Financial Services Group Inc. reduced its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 385,462 shares of the pipeline company's stock after selling 8,802 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Enbridge were worth $16,355,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. apricus wealth LLC boosted its holdings in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after purchasing an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after purchasing an additional 227 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after acquiring an additional 230 shares during the period. Eagle Bay Advisors LLC grew its holdings in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after buying an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in Enbridge by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock valued at $297,000 after acquiring an additional 242 shares in the last quarter. Institutional investors own 54.60% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on ENB. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating for the company. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.
Check Out Our Latest Stock Report on ENB
Enbridge Price Performance
Shares of NYSE:ENB traded up $0.52 during trading on Wednesday, reaching $42.82. The company had a trading volume of 1,217,609 shares, compared to its average volume of 4,341,516. The company has a fifty day moving average of $43.46 and a two-hundred day moving average of $42.17. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $93.31 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business posted $0.64 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.
Enbridge Company Profile
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Free Report)
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.
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