Titleist Asset Management LLC Sells 1,327 Shares of Enbridge Inc. (NYSE:ENB)

Titleist Asset Management LLC decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,721 shares of the pipeline company’s stock after selling 1,327 shares during the quarter. Titleist Asset Management LLC’s holdings in Enbridge were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ENB. Ted Buchan & Co grew its position in Enbridge by 8.5% in the 4th quarter. Ted Buchan & Co now owns 52,962 shares of the pipeline company’s stock worth $2,247,000 after purchasing an additional 4,163 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Enbridge by 1.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 3,788,300 shares of the pipeline company’s stock valued at $160,735,000 after acquiring an additional 61,006 shares during the last quarter. Cullen Capital Management LLC lifted its holdings in Enbridge by 6.5% during the fourth quarter. Cullen Capital Management LLC now owns 7,860 shares of the pipeline company’s stock worth $334,000 after acquiring an additional 480 shares during the period. Wells Fargo & Company MN boosted its position in Enbridge by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 4,399,582 shares of the pipeline company’s stock worth $186,674,000 after purchasing an additional 38,868 shares during the last quarter. Finally, Smith Moore & CO. grew its stake in Enbridge by 0.9% in the 4th quarter. Smith Moore & CO. now owns 44,086 shares of the pipeline company’s stock valued at $1,871,000 after purchasing an additional 398 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of research analyst reports. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Citigroup assumed coverage on shares of Enbridge in a research note on Friday. They set a “buy” rating for the company. Finally, TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

NYSE ENB opened at $43.34 on Monday. The company has a market cap of $94.44 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm’s 50-day simple moving average is $43.45 and its two-hundred day simple moving average is $42.64. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned $0.64 EPS. Research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.