America First Investment Advisors LLC Lowers Stake in Enbridge Inc. (NYSE:ENB)

America First Investment Advisors LLC cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 512,804 shares of the pipeline company’s stock after selling 6,885 shares during the quarter. Enbridge comprises about 4.8% of America First Investment Advisors LLC’s portfolio, making the stock its 12th biggest position. America First Investment Advisors LLC’s holdings in Enbridge were worth $21,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Enbridge during the 4th quarter valued at about $180,941,000. Vanguard Group Inc. raised its stake in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. National Bank of Canada FI boosted its holdings in Enbridge by 12.8% in the third 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, GQG Partners LLC grew its stake in shares of Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of NYSE ENB opened at $44.44 on Wednesday. The company has a 50 day simple moving average of $43.48 and a two-hundred day simple moving average of $42.42. The stock has a market cap of $96.84 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 3.92 and a beta of 0.95. 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 $32.86 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate 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 firm posted $0.64 earnings per share. As a group, analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of recent analyst reports. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada raised 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.