Enbridge Inc $ENB Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 33.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,845 shares of the pipeline company’s stock after selling 9,600 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Enbridge were worth $901,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Enbridge by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock worth $4,959,009,000 after buying an additional 1,892,491 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Enbridge by 0.3% during the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after acquiring an additional 137,897 shares in the last quarter. Norges Bank acquired a new stake in shares of Enbridge during the second quarter valued at about $1,113,368,000. Scotia Capital Inc. increased its position in shares of Enbridge by 2.1% during the third quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock worth $723,404,000 after acquiring an additional 300,391 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Enbridge by 38.7% during the second quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock worth $599,556,000 after acquiring an additional 3,687,334 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 1.0%

NYSE:ENB opened at $53.51 on Monday. The company has a market capitalization of $116.75 billion, a price-to-earnings ratio of 23.26 and a beta of 0.67. Enbridge Inc has a one year low of $39.73 and a one year high of $54.70. The stock has a 50-day simple moving average of $51.03 and a 200 day simple moving average of $49.02. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ENB shares. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, Royal Bank Of Canada raised their price target on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.