Enbridge Inc. (NYSE:ENB) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lessened its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,769 shares of the pipeline company’s stock after selling 246 shares during the period. Gamco Investors INC. ET AL’s holdings in Enbridge were worth $839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC lifted its position in Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after purchasing an additional 7,986 shares during the period. Aviso Financial Inc. lifted its holdings in shares of Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after buying an additional 58,176 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the period. Vanguard Group Inc. boosted its stake in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.7 %

NYSE:ENB opened at $45.32 on Friday. Enbridge Inc. has a 52-week low of $33.92 and a 52-week high of $46.12. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a fifty day simple moving average of $43.15 and a 200-day simple moving average of $42.78. The company has a market capitalization of $98.76 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. 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 note on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Enbridge currently has a consensus 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.