Enbridge Inc (ENB) Position Cut by Livingston Group Asset Management CO operating as Southport Capital Management

Livingston Group Asset Management CO operating as Southport Capital Management decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,496 shares of the pipeline company’s stock after selling 18,776 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Enbridge were worth $1,178,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Enbridge by 4.1% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 58,113 shares of the pipeline company’s stock valued at $1,876,000 after purchasing an additional 2,263 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of Enbridge by 14.4% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 79,302 shares of the pipeline company’s stock valued at $2,561,000 after purchasing an additional 9,981 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of Enbridge by 0.7% during the third quarter. DAVENPORT & Co LLC now owns 1,359,803 shares of the pipeline company’s stock valued at $43,908,000 after purchasing an additional 9,973 shares during the period. SL Advisors LLC raised its holdings in shares of Enbridge by 11.0% during the third quarter. SL Advisors LLC now owns 81,936 shares of the pipeline company’s stock valued at $2,644,000 after purchasing an additional 8,149 shares during the period. Finally, Nexus Investment Management Inc. raised its holdings in shares of Enbridge by 4.9% during the third quarter. Nexus Investment Management Inc. now owns 412,388 shares of the pipeline company’s stock valued at $13,297,000 after purchasing an additional 19,200 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.

Shares of NYSE:ENB traded up $0.12 during midday trading on Friday, hitting $31.96. 489,324 shares of the company’s stock were exchanged, compared to its average volume of 3,507,552. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.56 and a quick ratio of 0.47. The company has a market cap of $55.39 billion, a PE ratio of 20.86, a PEG ratio of 1.71 and a beta of 0.55. Enbridge Inc has a 12 month low of $29.00 and a 12 month high of $41.72.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 3rd. The pipeline company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.42 by $0.20. The company had revenue of $8.33 billion during the quarter, compared to the consensus estimate of $9.86 billion. Enbridge had a net margin of 5.99% and a return on equity of 8.47%. On average, equities research analysts expect that Enbridge Inc will post 2.1 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Monday. UBS Group started coverage on shares of Enbridge in a research report on Thursday, October 4th. They set a “buy” rating for the company. ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Citigroup reissued a “neutral” rating on shares of Enbridge in a research report on Monday, September 24th. Finally, Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $50.00 in a research report on Friday, August 17th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Enbridge has an average rating of “Buy” and an average target price of $49.17.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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