RNC Capital Management LLC Sells 204,711 Shares of Enbridge Inc. (NYSE:ENB)

RNC Capital Management LLC lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,390,206 shares of the pipeline company’s stock after selling 204,711 shares during the period. Enbridge comprises about 3.0% of RNC Capital Management LLC’s portfolio, making the stock its 12th biggest position. RNC Capital Management LLC’s holdings in Enbridge were worth $50,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Enbridge by 6.9% in the 1st quarter. American Century Companies Inc. now owns 49,136 shares of the pipeline company’s stock valued at $2,262,000 after buying an additional 3,178 shares during the last quarter. BlackRock Inc. grew its position in shares of Enbridge by 47.5% in the 1st quarter. BlackRock Inc. now owns 1,585,598 shares of the pipeline company’s stock valued at $73,081,000 after buying an additional 510,865 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Enbridge by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,647,982 shares of the pipeline company’s stock valued at $75,955,000 after buying an additional 112,553 shares during the last quarter. Blair William & Co. IL grew its position in shares of Enbridge by 3.4% in the 1st quarter. Blair William & Co. IL now owns 149,644 shares of the pipeline company’s stock valued at $6,897,000 after buying an additional 4,883 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Enbridge by 0.3% in the 1st quarter. Sei Investments Co. now owns 316,801 shares of the pipeline company’s stock valued at $14,600,000 after buying an additional 968 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.0 %

Shares of Enbridge stock opened at $35.99 on Thursday. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock’s 50-day moving average is $35.20 and its 200 day moving average is $34.57. The firm has a market cap of $76.50 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 3.37 and a beta of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Equities research analysts anticipate that Enbridge Inc. will post 2.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.20.

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.