Erste Asset Management GmbH Reduces Holdings in Enbridge Inc. (NYSE:ENB)

Erste Asset Management GmbH reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,900 shares of the pipeline company’s stock after selling 1,700 shares during the period. Erste Asset Management GmbH’s holdings in Enbridge were worth $1,546,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ENB. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge during the fourth quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Enbridge in the third quarter valued at $37,000. Dixon Mitchell Investment Counsel Inc. boosted its stake in Enbridge by 149.9% during the 4th 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 during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in Enbridge during the 4th quarter worth $42,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.7 %

NYSE:ENB opened at $42.86 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average of $43.45 and a 200-day moving average of $42.20. The firm has a market capitalization of $93.38 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $0.64 earnings per share. Analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Company 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.