Commerce Bank Has $7.68 Million Stake in Enbridge Inc. (NYSE:ENB)

Commerce Bank cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,020 shares of the pipeline company’s stock after selling 4,622 shares during the quarter. Commerce Bank’s holdings in Enbridge were worth $7,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc acquired a new stake in Enbridge during the third quarter worth approximately $106,000. Barclays PLC lifted its position in Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock worth $23,717,000 after purchasing an additional 44,675 shares during the period. McIlrath & Eck LLC increased its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Passumpsic Savings Bank lifted its holdings in shares of Enbridge by 2.4% during the 3rd quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company’s stock worth $470,000 after acquiring an additional 276 shares during the period. Finally, Anchor Investment Management LLC boosted its position in shares of Enbridge by 0.5% during the 3rd quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company’s stock worth $4,996,000 after acquiring an additional 581 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.7 %

ENB opened at $45.32 on Friday. The company’s 50 day moving average price is $43.15 and its two-hundred day moving average price is $42.79. The firm has a market capitalization of $98.76 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $46.12. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The business 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 period in the prior year, the business posted $0.64 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada raised their target price 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. Finally, Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.