Enbridge Inc. (NYSE:ENB) Stock Position Trimmed by Norway Savings Bank

Norway Savings Bank trimmed its position in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,397 shares of the pipeline company’s stock after selling 1,087 shares during the period. Norway Savings Bank’s holdings in Enbridge were worth $447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quilter Plc bought a new position in Enbridge in the 1st quarter worth approximately $293,879,000. Coppell Advisory Solutions Corp. bought a new position in shares of Enbridge in the fourth quarter worth $25,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Enbridge during the fourth quarter valued at $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Enbridge during the second quarter valued at about $26,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Enbridge in the first quarter worth about $27,000. Institutional investors own 48.29% of the company’s stock.

Enbridge Stock Performance

ENB opened at $35.45 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm has a market cap of $75.35 billion, a PE ratio of 16.88, a P/E/G ratio of 3.35 and a beta of 0.83. The business has a fifty day simple moving average of $35.23 and a 200-day simple moving average of $34.53. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. As a group, equities analysts predict that Enbridge Inc. will post 2.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ENB. Stifel Nicolaus initiated coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus target price of $55.20.

View Our Latest Analysis on ENB

Enbridge Profile

(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.

Further Reading

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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