Newbridge Financial Services Group Inc. Sells 11,630 Shares of Enbridge Inc $ENB

Newbridge Financial Services Group Inc. cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 87.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,614 shares of the pipeline company’s stock after selling 11,630 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Enbridge were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in Enbridge during the 4th quarter valued at approximately $261,000. AQR Capital Management LLC boosted its position in Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares in the last quarter. Guggenheim Capital LLC boosted its position in Enbridge by 5.8% during the 2nd quarter. Guggenheim Capital LLC now owns 27,985 shares of the pipeline company’s stock valued at $1,268,000 after acquiring an additional 1,535 shares in the last quarter. Ossiam boosted its position in Enbridge by 415.1% during the 2nd quarter. Ossiam now owns 18,539 shares of the pipeline company’s stock valued at $839,000 after acquiring an additional 14,940 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA boosted its position in Enbridge by 13.9% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 58,463 shares of the pipeline company’s stock valued at $2,653,000 after acquiring an additional 7,127 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $54.48 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The business’s 50 day moving average price is $52.83 and its 200-day moving average price is $49.51. Enbridge Inc has a 52 week low of $39.80 and a 52 week high of $55.44. The stock has a market cap of $118.89 billion, a P/E ratio of 23.69 and a beta of 0.63.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on ENB shares. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Royal Bank Of Canada lifted their price objective on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Profile

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.