Stokes Capital Advisors LLC Cuts Position in Enbridge Inc (NYSE:ENB)

Stokes Capital Advisors LLC decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 14,561 shares of the pipeline company’s stock after selling 1,216 shares during the quarter. Stokes Capital Advisors LLC’s holdings in Enbridge were worth $425,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Enbridge by 22.0% in the first quarter. Capital International Investors now owns 155,763,559 shares of the pipeline company’s stock valued at $4,533,297,000 after buying an additional 28,059,331 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Enbridge by 55.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 29,899,972 shares of the pipeline company’s stock worth $869,790,000 after purchasing an additional 10,695,387 shares during the last quarter. Blackstone Group Inc purchased a new stake in Enbridge during the 2nd quarter worth approximately $291,656,000. Brookfield Asset Management Inc. purchased a new stake in Enbridge during the 2nd quarter worth approximately $242,440,000. Finally, Toronto Dominion Bank increased its holdings in Enbridge by 70.1% during the 2nd quarter. Toronto Dominion Bank now owns 12,530,525 shares of the pipeline company’s stock worth $398,150,000 after purchasing an additional 5,163,719 shares during the last quarter. Hedge funds and other institutional investors own 52.27% of the company’s stock.

NYSE:ENB opened at $29.45 on Friday. Enbridge Inc has a 12-month low of $22.57 and a 12-month high of $43.15. The firm has a market capitalization of $59.64 billion, a P/E ratio of 42.07, a P/E/G ratio of 1.54 and a beta of 0.83. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.61 and a quick ratio of 0.52. The business has a 50 day simple moving average of $30.56 and a 200 day simple moving average of $30.90.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.15. Enbridge had a return on equity of 8.61% and a net margin of 5.17%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. Research analysts anticipate that Enbridge Inc will post 2.05 EPS for the current fiscal year.

Several research firms have issued reports on ENB. Raymond James restated a “buy” rating and set a $55.00 price objective on shares of Enbridge in a report on Thursday, July 30th. Royal Bank of Canada dropped their price objective on Enbridge from $61.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Tudor Pickering restated a “buy” rating and set a $50.00 price objective on shares of Enbridge in a report on Tuesday, July 28th. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, Morgan Stanley upgraded Enbridge from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $49.00 to $54.00 in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.50.

Enbridge Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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