Enbridge Inc. (NYSE:ENB) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 70.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,850 shares of the pipeline company’s stock after selling 135,290 shares during the period. Cannell & Spears LLC’s holdings in Enbridge were worth $2,412,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. McIlrath & Eck LLC raised its position in shares of 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 buying an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in Enbridge during the fourth quarter worth about $29,000. Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. lifted its stake in shares of Enbridge by 149.9% in the 4th 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 in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of Enbridge during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a research 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Down 0.5 %

NYSE ENB opened at $44.23 on Tuesday. 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 Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The business has a 50 day moving average price of $43.49 and a two-hundred day moving average price of $42.53. The stock has a market cap of $96.37 billion, a PE ratio of 25.71, a P/E/G ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

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.