Legacy Financial Advisors Inc. Reduces Position in Enbridge Inc. (NYSE:ENB)

Legacy Financial Advisors Inc. decreased its position in Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,933 shares of the pipeline company’s stock after selling 1,041 shares during the period. Legacy Financial Advisors Inc.’s holdings in Enbridge were worth $232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. St. James Investment Advisors LLC bought a new position in Enbridge in the fourth quarter worth approximately $3,641,000. Investment Partners LTD. increased its position in shares of Enbridge by 62.1% during the fourth quarter. Investment Partners LTD. now owns 15,074 shares of the pipeline company’s stock worth $589,000 after purchasing an additional 5,773 shares in the last quarter. Atria Investments LLC increased its position in shares of Enbridge by 2.1% during the fourth quarter. Atria Investments LLC now owns 131,185 shares of the pipeline company’s stock worth $5,127,000 after purchasing an additional 2,684 shares in the last quarter. Frontier Wealth Management LLC increased its position in shares of Enbridge by 9.2% during the fourth quarter. Frontier Wealth Management LLC now owns 26,479 shares of the pipeline company’s stock worth $1,035,000 after purchasing an additional 2,225 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Enbridge by 15.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 260,322 shares of the pipeline company’s stock valued at $10,178,000 after acquiring an additional 33,888 shares during the period. Hedge funds and other institutional investors own 53.80% of the company’s stock.

Several equities analysts recently issued reports on ENB shares. CIBC upped their target price on Enbridge from C$57.00 to C$58.00 in a research report on Monday, February 14th. TD Securities increased their target price on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, February 14th. Raymond James upped their price target on shares of Enbridge from C$53.00 to C$54.50 and gave the stock a “market perform” rating in a research report on Monday, February 14th. BMO Capital Markets upped their price target on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, February 14th. Finally, Scotiabank downgraded shares of Enbridge from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, February 14th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $53.77.

Shares of Enbridge stock traded up $0.14 during trading on Monday, hitting $46.36. 108,296 shares of the stock were exchanged, compared to its average volume of 4,875,350. The stock has a market cap of $93.90 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 3.19 and a beta of 0.78. The firm’s 50-day moving average price is $44.33 and its 200 day moving average price is $41.81. Enbridge Inc. has a 12-month low of $36.21 and a 12-month high of $47.42. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.49 and a quick ratio of 0.40.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last announced its quarterly earnings results on Friday, February 11th. The pipeline company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.07). Enbridge had a return on equity of 9.98% and a net margin of 12.66%. The company had revenue of $9.89 billion for the quarter, compared to analyst estimates of $10.10 billion. As a group, research analysts forecast that Enbridge Inc. will post 2.41 earnings per share for the current year.

About Enbridge (Get Rating)

Enbridge Inc 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.

See Also

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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