Atlantic Union Bankshares Corp Has $677,000 Holdings in Enbridge Inc. (NYSE:ENB)

Atlantic Union Bankshares Corp lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,968 shares of the pipeline company’s stock after selling 2,677 shares during the period. Atlantic Union Bankshares Corp’s holdings in Enbridge were worth $677,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT acquired a new position in shares of Enbridge during the fourth quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in Enbridge in the third quarter valued at $37,000. Dixon Mitchell Investment Counsel Inc. lifted its holdings in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in Enbridge in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $42.00 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a market cap of $91.51 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.92 and a beta of 0.95. The company’s fifty day simple moving average is $43.45 and its 200 day simple moving average is $42.10.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average target price 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.