Sequoia Financial Advisors LLC Sells 2,188 Shares of Enbridge Inc. (NYSE:ENB)

Sequoia Financial Advisors LLC lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.3% in the 4th quarter, Holdings Channel reports. The fund owned 93,227 shares of the pipeline company’s stock after selling 2,188 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Enbridge were worth $3,956,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Enbridge in the 4th quarter worth approximately $180,941,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares in the last quarter. National Bank of Canada FI raised its position in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its position in shares of Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after acquiring an additional 1,472,789 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ENB. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $42.54 on Friday. The business’s fifty day simple moving average is $43.46 and its two-hundred day simple moving average is $42.18. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a market cap of $92.69 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the business posted $0.64 EPS. Research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.