Weaver C. Barksdale & Associates Inc. Has $1.82 Million Stake in Enbridge Inc. (NYSE:ENB)

Weaver C. Barksdale & Associates Inc. reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 42,879 shares of the pipeline company’s stock after selling 1,080 shares during the quarter. Enbridge comprises about 1.7% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 24th biggest position. Weaver C. Barksdale & Associates Inc.’s holdings in Enbridge were worth $1,819,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. apricus wealth LLC grew its holdings in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after buying an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. raised its position in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the last quarter. Wintrust Investments LLC lifted its position in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its position in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after buying an additional 240 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $44.44 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The firm has a market capitalization of $96.84 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.92 and a beta of 0.95. The company’s 50 day moving average price is $43.48 and its two-hundred day moving average price is $42.42.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.