OLD Point Trust & Financial Services N A Reduces Holdings in Enbridge Inc. (NYSE:ENB)

OLD Point Trust & Financial Services N A reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,980 shares of the pipeline company’s stock after selling 4,001 shares during the period. Enbridge makes up about 1.8% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 20th biggest holding. OLD Point Trust & Financial Services N A’s holdings in Enbridge were worth $5,048,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ENB. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% in 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 in the last quarter. Albion Financial Group UT bought a new position in Enbridge in the 4th quarter worth approximately $29,000. Wintrust Investments LLC increased its holdings in shares of Enbridge by 47.8% during 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 during the period. Darwin Wealth Management LLC acquired a new position in Enbridge during the 3rd quarter valued at about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its stake 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 acquiring an additional 580 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $43.73 on Thursday. The company has a 50 day moving average price of $43.45 and a two-hundred day moving average price of $42.30. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78. The stock has a market capitalization of $95.28 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 issued its quarterly earnings data 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 return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on ENB shares. Royal Bank of Canada boosted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” 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.