OLD Point Trust & Financial Services N A Sells 4,001 Shares of Enbridge Inc. (NYSE:ENB)

OLD Point Trust & Financial Services N A cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,980 shares of the pipeline company’s stock after selling 4,001 shares during the quarter. Enbridge accounts for 1.8% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 20th biggest holding. OLD Point Trust & Financial Services N A’s holdings in Enbridge were worth $5,048,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter worth about $29,000. Wintrust Investments LLC lifted its holdings in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Enbridge in the 3rd quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. boosted its holdings in 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 buying an additional 580 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Up 0.7 %

ENB stock opened at $43.73 on Thursday. The company has a market cap of $95.28 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78. The business has a 50 day moving average price of $43.45 and a two-hundred day moving average price of $42.30. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.14 EPS 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.