Enbridge Inc. (NYSE:ENB) is St. James Investment Company LLC’s 6th Largest Position

St. James Investment Company LLC cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% in the fourth quarter, Holdings Channel reports. The fund owned 956,846 shares of the pipeline company’s stock after selling 11,134 shares during the quarter. Enbridge accounts for approximately 5.6% of St. James Investment Company LLC’s portfolio, making the stock its 6th largest position. St. James Investment Company LLC’s holdings in Enbridge were worth $34,466,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ENB. Moneta Group Investment Advisors LLC increased its holdings in shares of Enbridge by 109,143.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock valued at $1,895,102,000 after acquiring an additional 48,423,715 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the period. Norges Bank acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $723,255,000. Vanguard Group Inc. grew its stake in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Enbridge by 36.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after purchasing an additional 2,814,200 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 1.6 %

Shares of NYSE ENB traded down $0.54 during trading on Tuesday, hitting $33.21. 2,322,805 shares of the company were exchanged, compared to its average volume of 5,303,893. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The company has a fifty day moving average price of $35.09 and a 200-day moving average price of $34.66. The firm has a market capitalization of $70.60 billion, a PE ratio of 16.07, a P/E/G ratio of 3.21 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. As a group, equities research analysts expect that Enbridge Inc. will post 2.13 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.