Beck Mack & Oliver LLC Trims Stock Position in Enbridge Inc $ENB

Beck Mack & Oliver LLC lessened its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 335,952 shares of the pipeline company’s stock after selling 11,642 shares during the period. Beck Mack & Oliver LLC’s holdings in Enbridge were worth $16,952,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Tsfg LLC increased its holdings in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares during the period. Highline Wealth Partners LLC lifted its holdings in shares of Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares during the period. True Wealth Design LLC grew its position in shares of Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. Imprint Wealth LLC bought a new position in shares of Enbridge during the 3rd quarter worth $31,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Enbridge during the second quarter valued at $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.9%

Shares of NYSE ENB opened at $54.09 on Friday. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.42. The business has a fifty day moving average price of $50.21 and a 200 day moving average price of $48.81. The stock has a market capitalization of $118.02 billion, a P/E ratio of 23.52 and a beta of 0.67. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the previous year, the firm earned $0.75 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent research reports. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.