Enbridge Inc. (NYSE:ENB) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 332,722 shares of the pipeline company’s stock after selling 1,285 shares during the quarter. M&T Bank Corp’s holdings in Enbridge were worth $14,117,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new position in shares of Enbridge in the fourth quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in shares of Enbridge in the third quarter worth $37,000. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Enbridge in the fourth quarter worth $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank of Canada upped 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. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $42.60 on Thursday. The firm has a market capitalization of $92.82 billion, a P/E ratio of 24.76, a PEG ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average price of $43.45 and a 200 day moving average price of $42.07. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge 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.