Marks Group Wealth Management Inc Sells 10,078 Shares of Enbridge Inc. (NYSE:ENB)

Marks Group Wealth Management Inc trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 71,972 shares of the pipeline company’s stock after selling 10,078 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Enbridge were worth $2,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. BOK Financial Private Wealth Inc. bought a new stake in Enbridge during the 4th quarter valued at $25,000. Baystate Wealth Management LLC raised its stake in shares of Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Enbridge during the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares during the period. Finally, Planned Solutions Inc. purchased a new position in Enbridge during the 4th quarter valued at about $34,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ENB. Stifel Nicolaus started coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group started coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Up 0.1 %

Shares of ENB traded up $0.02 on Tuesday, reaching $35.37. The stock had a trading volume of 4,624,733 shares, compared to its average volume of 5,600,147. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The firm has a market capitalization of $75.19 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 3.26 and a beta of 0.84. The company has a 50-day simple moving average of $35.05 and a 200-day simple moving average of $34.73.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

About Enbridge

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.