Cohen & Steers Inc. Sells 17,183 Shares of Enbridge Inc. (NYSE:ENB)

Cohen & Steers Inc. cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,338 shares of the pipeline company’s stock after selling 17,183 shares during the period. Cohen & Steers Inc.’s holdings in Enbridge were worth $3,409,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in Enbridge during the fourth quarter valued at approximately $29,000. Wintrust Investments LLC boosted its position in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its stake 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 purchasing an additional 580 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in shares of Enbridge during the 4th quarter valued at $42,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.7 %

Shares of ENB opened at $43.99 on Tuesday. The business’s 50 day simple moving average is $43.14 and its 200-day simple moving average is $42.69. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $46.12. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market capitalization of $95.86 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business earned $0.64 earnings per share. As a group, equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada raised their target price on shares of 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 four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.