Wellington Shields Capital Management LLC Has $840,000 Stake in Enbridge Inc. (NYSE:ENB)

Wellington Shields Capital Management LLC cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 26.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,796 shares of the pipeline company’s stock after selling 7,084 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Enbridge were worth $840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC raised its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT bought a new position in shares of Enbridge in the 4th quarter valued at $29,000. Wintrust Investments LLC increased its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Enbridge during the 3rd quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position in shares of Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENB has been the topic of a number of recent analyst reports. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Enbridge stock opened at $42.54 on Friday. The company has a market capitalization of $92.69 billion, a PE ratio of 24.73, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average price of $43.46 and a two-hundred day moving average price of $42.18. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the company earned $0.64 EPS. Analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

About Enbridge

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.