Doheny Asset Management CA Sells 815 Shares of Enbridge Inc. (NYSE:ENB)

Doheny Asset Management CA decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 67,207 shares of the pipeline company’s stock after selling 815 shares during the period. Enbridge comprises approximately 2.1% of Doheny Asset Management CA’s portfolio, making the stock its 15th biggest holding. Doheny Asset Management CA’s holdings in Enbridge were worth $2,852,000 at the end of the most recent reporting period.

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

Enbridge Trading Up 0.7 %

Shares of NYSE ENB opened at $42.86 on Friday. The stock has a market cap of $93.38 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 1 year low of $32.85 and a 1 year high of $45.78. The firm has a 50-day moving average of $43.45 and a 200 day moving average of $42.20.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ENB shares. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.