CNB Bank Cuts Stock Holdings in Enbridge Inc. (NYSE:ENB)

CNB Bank reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,333 shares of the pipeline company’s stock after selling 1,014 shares during the period. CNB Bank’s holdings in Enbridge were worth $985,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quilter Plc purchased a new stake in Enbridge during the 1st quarter worth approximately $293,879,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Enbridge during the 4th quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Enbridge during the 4th quarter worth approximately $25,000. Coppell Advisory Solutions LLC acquired a new position in shares of Enbridge during the 2nd quarter worth approximately $26,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Enbridge during the 1st quarter worth approximately $27,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 2.8 %

ENB opened at $34.86 on Friday. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The stock has a market capitalization of $74.11 billion, a PE ratio of 16.60, a P/E/G ratio of 3.26 and a beta of 0.84. The business’s 50 day moving average price is $35.04 and its 200 day moving average price is $34.68. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ENB shares. Jefferies Financial Group started coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus started coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.20.

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.