Alpha Omega Wealth Management LLC Sells 55,405 Shares of Enbridge Inc. (NYSE:ENB)

Alpha Omega Wealth Management LLC decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 129,007 shares of the pipeline company’s stock after selling 55,405 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Enbridge were worth $4,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC boosted its position in shares of Enbridge by 109,143.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after purchasing an additional 48,423,715 shares in the last quarter. Wellington Management Group LLP grew its stake in 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 acquiring an additional 28,076,386 shares during the period. Norges Bank bought a new stake in shares of Enbridge during the fourth quarter valued at approximately $723,255,000. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Enbridge by 36.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after purchasing an additional 2,814,200 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB traded down $0.78 during midday trading on Wednesday, reaching $32.97. The company had a trading volume of 8,660,835 shares, compared to its average volume of 3,858,455. 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 stock has a market cap of $70.09 billion, a PE ratio of 15.70, a P/E/G ratio of 3.17 and a beta of 0.84. The business has a 50-day moving average price of $35.05 and a two-hundred day moving average price of $34.66. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, sell-side analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started 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 given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average price target 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.