Picton Mahoney Asset Management Sells 220,497 Shares of Enbridge Inc $ENB

Picton Mahoney Asset Management trimmed its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,704,498 shares of the pipeline company’s stock after selling 220,497 shares during the period. Enbridge comprises approximately 1.2% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 11th biggest position. Picton Mahoney Asset Management’s holdings in Enbridge were worth $136,412,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tsfg LLC grew its position in shares of Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares during the last quarter. Highline Wealth Partners LLC raised its position in shares of Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Enbridge in the second quarter worth approximately $29,000. True Wealth Design LLC boosted its holdings in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Enbridge during the 2nd quarter valued at approximately $31,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ENB shares. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Up 0.8%

Shares of NYSE ENB opened at $54.37 on Wednesday. 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 firm has a market cap of $118.62 billion, a PE ratio of 23.64 and a beta of 0.67. The company’s fifty day simple moving average is $49.23 and its 200 day simple moving average is $48.46. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $54.42.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Company 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.