Sound View Wealth Advisors Group LLC Decreases Stake in Enbridge Inc. (NYSE:ENB)

Sound View Wealth Advisors Group LLC cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,061 shares of the pipeline company’s stock after selling 780 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Enbridge were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. CWA Asset Management Group LLC purchased a new stake in shares of Enbridge during the 3rd quarter valued at about $1,104,000. SpiderRock Advisors LLC grew its position in Enbridge by 28.8% in the 3rd quarter. SpiderRock Advisors LLC now owns 11,615 shares of the pipeline company’s stock worth $472,000 after purchasing an additional 2,594 shares during the period. Assetmark Inc. raised its stake in Enbridge by 30.5% during the 3rd quarter. Assetmark Inc. now owns 54,542 shares of the pipeline company’s stock valued at $2,215,000 after buying an additional 12,743 shares during the last quarter. XML Financial LLC raised its stake in Enbridge by 2.8% during the 3rd quarter. XML Financial LLC now owns 16,145 shares of the pipeline company’s stock valued at $656,000 after buying an additional 446 shares during the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of Enbridge by 4.0% during the 3rd quarter. Sigma Planning Corp now owns 58,338 shares of the pipeline company’s stock valued at $2,369,000 after buying an additional 2,235 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ENB shares. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada upped their price target 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, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

Shares of Enbridge stock opened at $42.69 on Tuesday. The stock has a market cap of $93.01 billion, a P/E ratio of 24.82, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock’s fifty day moving average is $43.46 and its 200 day moving average is $42.15. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

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 firm had revenue of $11.59 billion for 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 company earned $0.64 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.