Enbridge Inc. (NYSE:ENB) Shares Sold by Roble Belko & Company Inc

Roble Belko & Company Inc cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,945 shares of the pipeline company’s stock after selling 2,945 shares during the quarter. Roble Belko & Company Inc’s holdings in Enbridge were worth $106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after buying an additional 28,076,386 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Enbridge by 36.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after buying an additional 2,814,200 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Enbridge by 13.9% in the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after buying an additional 2,756,079 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Enbridge by 11.3% in the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock valued at $689,270,000 after buying an additional 2,101,021 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ENB shares. Stifel Nicolaus began coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Performance

Shares of NYSE ENB traded up $0.49 during mid-day trading on Monday, hitting $35.35. The company had a trading volume of 12,529,975 shares, compared to its average volume of 5,616,851. The stock has a market cap of $75.15 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 3.26 and a beta of 0.84. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm’s 50 day simple moving average is $35.05 and its two-hundred day simple moving average is $34.73.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. As a group, equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.