SeaCrest Wealth Management LLC Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

SeaCrest Wealth Management LLC lowered its position in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,089 shares of the pipeline company’s stock after selling 354 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Enbridge were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC lifted its position in Enbridge by 3.1% in the first quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after buying an additional 297 shares during the last quarter. North Star Investment Management Corp. lifted its position in Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after buying an additional 300 shares during the last quarter. Independence Bank of Kentucky lifted its position in Enbridge by 25.3% in the third quarter. Independence Bank of Kentucky now owns 1,681 shares of the pipeline company’s stock valued at $56,000 after buying an additional 339 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after buying an additional 341 shares during the last quarter. Finally, Marino Stram & Associates LLC lifted its position in Enbridge by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after buying an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENB. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $55.20.

Read Our Latest Stock Analysis on ENB

Enbridge Stock Up 0.5 %

Shares of ENB opened at $36.18 on Friday. The stock has a market capitalization of $76.90 billion, a PE ratio of 17.23, a P/E/G ratio of 3.42 and a beta of 0.83. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The company’s 50-day simple moving average is $35.21 and its 200-day simple moving average is $34.61.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last issued 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 business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Analysts forecast that Enbridge Inc. will post 2.11 earnings per share for the current fiscal year.

About Enbridge

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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