Wilmington Savings Fund Society FSB Trims Stock Position in Enbridge Inc $ENB

Wilmington Savings Fund Society FSB trimmed its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 32.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,372 shares of the pipeline company’s stock after selling 9,697 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Enbridge were worth $1,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its position in shares of Enbridge by 25.5% in the third quarter. Coldstream Capital Management Inc. now owns 7,128 shares of the pipeline company’s stock worth $360,000 after acquiring an additional 1,448 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Enbridge by 683.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,602 shares of the pipeline company’s stock worth $131,000 after purchasing an additional 2,270 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of Enbridge in the 3rd quarter valued at $168,000. Greenline Partners LLC grew its stake in shares of Enbridge by 3.6% during the 3rd quarter. Greenline Partners LLC now owns 346,725 shares of the pipeline company’s stock valued at $17,496,000 after buying an additional 11,965 shares during the period. Finally, Keystone Financial Group increased its holdings in shares of Enbridge by 1.8% during the 3rd quarter. Keystone Financial Group now owns 22,735 shares of the pipeline company’s stock worth $1,147,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $54.01 on Friday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $54.70. The firm has a market cap of $117.85 billion, a price-to-earnings ratio of 23.48 and a beta of 0.67. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The company has a fifty day simple moving average of $50.87 and a 200 day simple moving average of $48.97.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter in the previous year, the business posted $0.75 EPS. Equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENB. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada increased their target price on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.