Sound View Wealth Advisors Group LLC Decreases Position in Enbridge Inc. (NYSE:ENB)

Sound View Wealth Advisors Group LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,061 shares of the pipeline company’s stock after selling 780 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Enbridge were worth $215,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ENB. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% in the 3rd 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 purchased a new stake in Enbridge during the 4th quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in Enbridge during the 3rd quarter valued at $37,000. Dixon Mitchell Investment Counsel Inc. grew its holdings in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Enbridge in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.6 %

ENB opened at $42.69 on Tuesday. The stock has a market cap of $93.01 billion, a PE ratio of 24.82, a PEG ratio of 3.92 and a beta of 0.95. The business has a 50 day moving average of $43.46 and a 200-day moving average of $42.15. Enbridge Inc. has a 52 week low of $32.85 and a 52 week 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.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.64 EPS. Equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada raised 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. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge 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.