Verdence Capital Advisors LLC Has $1.07 Million Stake in Enbridge Inc. (NYSE:ENB)

Verdence Capital Advisors LLC decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 24.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,801 shares of the pipeline company’s stock after selling 9,840 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Enbridge were worth $1,073,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ENB. American Century Companies Inc. raised its position in 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 purchasing an additional 3,178 shares during the last quarter. BlackRock Inc. raised its position in 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 purchasing an additional 510,865 shares during the last quarter. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 112,553 shares during the last quarter. Blair William & Co. IL raised its position in 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 purchasing an additional 4,883 shares during the last quarter. Finally, Sei Investments Co. raised its position in 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 purchasing an additional 968 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 2.8 %

Shares of Enbridge stock opened at $34.86 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The business has a fifty day simple moving average of $35.04 and a 200 day simple moving average of $34.71. The stock has a market cap of $74.11 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 3.26 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS 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 for the quarter, compared to analyst estimates of $9.62 billion. Research analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.