Enbridge Inc. (NYSE:ENB) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 24.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,718 shares of the pipeline company’s stock after selling 1,486 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Enbridge were worth $170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. BOK Financial Private Wealth Inc. acquired a new position in shares of Enbridge in the 4th quarter valued at $25,000. Baystate Wealth Management LLC lifted its stake in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge in the 4th quarter valued at $28,000. Financial Gravity Asset Management Inc. lifted its stake in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of Enbridge in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent analyst reports. Jefferies Financial Group started coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Down 0.2 %

NYSE ENB traded down $0.06 during trading hours on Wednesday, hitting $35.36. 2,600,416 shares of the company were exchanged, compared to its average volume of 5,661,070. The company has a 50 day moving average of $35.07 and a two-hundred day moving average of $34.76. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm has a market cap of $75.17 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 3.31 and a beta of 0.84. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share 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.