Alpha Omega Wealth Management LLC Lowers Stake in Enbridge Inc. (NYSE:ENB)

Alpha Omega Wealth Management LLC lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 129,007 shares of the pipeline company’s stock after selling 55,405 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Enbridge were worth $4,647,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. BOK Financial Private Wealth Inc. purchased a new stake in Enbridge in the fourth quarter valued at approximately $25,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Enbridge during the fourth quarter valued at about $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Enbridge during the fourth quarter worth about $25,000. Baystate Wealth Management LLC lifted its stake in shares of Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares in the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in Enbridge in the second quarter valued at about $26,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ENB shares. Stifel Nicolaus initiated coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

ENB traded down $0.78 during trading hours on Wednesday, hitting $32.97. The company’s stock had a trading volume of 8,660,835 shares, compared to its average volume of 3,858,455. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The firm has a market capitalization of $70.09 billion, a PE ratio of 15.70, a PEG ratio of 3.17 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 $34.66. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

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

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.