Tandem Capital Management Corp ADV Cuts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Tandem Capital Management Corp ADV cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 22.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,798 shares of the pipeline company’s stock after selling 3,202 shares during the period. Tandem Capital Management Corp ADV’s holdings in Enbridge were worth $439,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the period. Stonegate Investment Group LLC boosted its holdings in Enbridge by 66.5% in the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after buying an additional 13,515 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Enbridge during the 1st quarter worth approximately $1,133,000. International Assets Investment Management LLC lifted its position in shares of Enbridge by 734.1% in the third quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company’s stock valued at $36,200,000 after acquiring an additional 784,535 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of Enbridge by 29.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock valued at $6,810,000 after acquiring an additional 38,231 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $40.60 on Thursday. Enbridge Inc. has a fifty-two week low of $31.68 and a fifty-two week high of $42.16. The firm has a market capitalization of $86.64 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The stock’s fifty day moving average is $40.69 and its two-hundred day moving average is $37.87. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research reports. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

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.