Gabelli Funds LLC Sells 1,000 Shares of Enbridge Inc. (NYSE:ENB)

Gabelli Funds LLC reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 800,400 shares of the pipeline company’s stock after selling 1,000 shares during the period. Gabelli Funds LLC’s holdings in Enbridge were worth $33,961,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new stake in Enbridge in the 4th quarter worth approximately $29,000. Wintrust Investments LLC raised its stake in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its position 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 worth $41,000 after purchasing an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Enbridge in the fourth quarter worth $42,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 1.7 %

Shares of NYSE ENB opened at $43.99 on Tuesday. The stock has a market capitalization of $95.86 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $46.12. 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 firm’s 50-day moving average price is $43.14 and its 200-day moving average price is $42.69.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average price target 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.