Rhumbline Advisers Has $447,000 Holdings in Enbridge Inc. (NYSE:ENB)

Rhumbline Advisers decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,524 shares of the pipeline company’s stock after selling 451 shares during the quarter. Rhumbline Advisers’ holdings in Enbridge were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in Enbridge during the third quarter worth approximately $37,000. Dixon Mitchell Investment Counsel Inc. increased its position in Enbridge by 149.9% during the fourth 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. Finally, Legend Financial Advisors Inc. acquired a new position in Enbridge during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.0 %

Shares of NYSE:ENB opened at $42.00 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock has a market cap of $91.51 billion, a PE ratio of 24.42, a P/E/G ratio of 3.92 and a beta of 0.95. The business has a 50 day moving average of $43.45 and a 200-day moving average of $42.10. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Company Profile

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.