Enbridge Inc. (NYSE:ENB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 385,462 shares of the pipeline company’s stock after selling 8,802 shares during the period. PNC Financial Services Group Inc.’s holdings in Enbridge were worth $16,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new position in Enbridge during the 4th quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Enbridge in the 3rd quarter worth $37,000. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Enbridge in the fourth quarter valued at about $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.6 %

Shares of Enbridge stock opened at $42.69 on Tuesday. The company has a 50-day moving average of $43.46 and a two-hundred day moving average of $42.15. The stock has a market cap of $93.01 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

ENB has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.