Enbridge Inc. (NYSE:ENB) Shares Sold by Brookstone Capital Management

Brookstone Capital Management reduced its holdings in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,540 shares of the pipeline company’s stock after selling 8,627 shares during the period. Brookstone Capital Management’s holdings in Enbridge were worth $2,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC acquired a new position in Enbridge during the 3rd quarter valued at about $60,000. Advisors Asset Management Inc. increased its position in Enbridge by 9.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 114,371 shares of the pipeline company’s stock valued at $4,243,000 after buying an additional 10,123 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Enbridge by 2.1% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 142,269 shares of the pipeline company’s stock valued at $5,563,000 after buying an additional 2,994 shares in the last quarter. Kovack Advisors Inc. acquired a new position in Enbridge during the 3rd quarter valued at about $832,000. Finally, Ontario Teachers Pension Plan Board increased its position in Enbridge by 62.8% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 25,382 shares of the pipeline company’s stock valued at $940,000 after buying an additional 9,793 shares in the last quarter. 49.25% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 1.2 %

Shares of ENB opened at $36.56 on Friday. Enbridge Inc. has a 52 week low of $35.02 and a 52 week high of $47.67. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $74.03 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.68 and a beta of 0.83. The stock’s 50-day moving average price is $39.64 and its 200-day moving average price is $39.53.

Analysts Set New Price Targets

ENB has been the topic of several research analyst reports. National Bank Financial boosted their price target on Enbridge from C$54.00 to C$56.00 in a research note on Friday, January 27th. StockNews.com initiated coverage on Enbridge in a research note on Thursday. They set a “hold” rating on the stock. Credit Suisse Group downgraded Enbridge from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 8th. Finally, BMO Capital Markets downgraded Enbridge from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average price target of $59.00.

Enbridge Company Profile

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Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.