Geneos Wealth Management Inc. Cuts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Geneos Wealth Management Inc. lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 50.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,037 shares of the pipeline company’s stock after selling 13,432 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Enbridge were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Quilter Plc purchased a new stake in shares of Enbridge during the first quarter worth $293,879,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Enbridge during the fourth quarter worth $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Enbridge during the fourth quarter worth $25,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Enbridge during the second quarter worth $26,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Enbridge during the first quarter worth $27,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $34.18 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30. The company has a market capitalization of $72.66 billion, a PE ratio of 16.28, a P/E/G ratio of 3.25 and a beta of 0.84. The company has a fifty day moving average of $35.10 and a two-hundred day moving average of $34.65.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. As a group, analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.