Atlantic Union Bankshares Corp Sells 2,677 Shares of Enbridge Inc. (NYSE:ENB)

Atlantic Union Bankshares Corp cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,968 shares of the pipeline company’s stock after selling 2,677 shares during the period. Atlantic Union Bankshares Corp’s holdings in Enbridge were worth $677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of Enbridge during the fourth quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Enbridge during the third quarter worth about $37,000. Dixon Mitchell Investment Counsel Inc. increased its position in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in shares of Enbridge during the fourth quarter worth about $42,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 1.0 %

Enbridge stock opened at $42.00 on Friday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The stock has a market cap of $91.51 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The firm’s 50-day simple moving average is $43.45 and its 200 day simple moving average is $42.10. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

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 business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations 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 company earned $0.64 earnings per share. Research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

ENB has been the subject of several recent research reports. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada boosted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” 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.