Cornell Pochily Investment Advisors Inc. Sells 2,761 Shares of Enbridge Inc. (NYSE:ENB)

Cornell Pochily Investment Advisors Inc. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,211 shares of the pipeline company’s stock after selling 2,761 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Enbridge were worth $692,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Coppell Advisory Solutions Corp. bought a new position in Enbridge during the fourth quarter worth about $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth about $25,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Enbridge during the second quarter worth about $26,000. Tyler Stone Wealth Management acquired a new stake in shares of Enbridge during the second quarter worth about $26,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Enbridge during the first quarter worth about $27,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ENB. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Price Performance

Shares of ENB traded up $0.18 during midday trading on Thursday, reaching $36.17. The stock had a trading volume of 774,609 shares, compared to its average volume of 5,479,541. The company’s 50-day moving average is $35.20 and its 200 day moving average is $34.57. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $76.88 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83.

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 net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. On average, equities analysts predict that Enbridge Inc. will post 2.11 EPS for the current fiscal 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.