Latitude Advisors LLC Decreases Stock Position in Enbridge Inc. (NYSE:ENB)

Latitude Advisors LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,845 shares of the pipeline company’s stock after selling 410 shares during the period. Latitude Advisors LLC’s holdings in Enbridge were worth $247,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quilter Plc purchased a new position in shares of Enbridge in the first quarter worth about $293,879,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Enbridge in the fourth quarter worth about $25,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Enbridge in the fourth quarter worth about $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Enbridge in the second quarter worth about $26,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Enbridge in the first quarter worth about $27,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ENB. Jefferies Financial Group began coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Down 2.3 %

Enbridge stock traded down $0.78 during trading hours on Wednesday, hitting $32.97. 8,660,835 shares of the stock traded hands, compared to its average volume of 3,858,455. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm’s 50-day moving average price is $35.05 and its two-hundred day moving average price is $34.66. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The company has a market cap of $70.09 billion, a PE ratio of 15.70, a PEG ratio of 3.17 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. On average, research analysts forecast that Enbridge Inc. will post 2.13 EPS for the current year.

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.