Octavia Wealth Advisors LLC Cuts Stock Position in Enbridge Inc. (NYSE:ENB)

Octavia Wealth Advisors LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,218 shares of the pipeline company’s stock after selling 1,058 shares during the period. Octavia Wealth Advisors LLC’s holdings in Enbridge were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. American Century Companies Inc. grew its stake in shares of Enbridge by 6.9% in the 1st quarter. American Century Companies Inc. now owns 49,136 shares of the pipeline company’s stock worth $2,262,000 after buying an additional 3,178 shares during the last quarter. BlackRock Inc. lifted its position in Enbridge by 47.5% in the 1st quarter. BlackRock Inc. now owns 1,585,598 shares of the pipeline company’s stock valued at $73,081,000 after acquiring an additional 510,865 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Enbridge by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,647,982 shares of the pipeline company’s stock valued at $75,955,000 after acquiring an additional 112,553 shares in the last quarter. Blair William & Co. IL lifted its position in Enbridge by 3.4% in the 1st quarter. Blair William & Co. IL now owns 149,644 shares of the pipeline company’s stock valued at $6,897,000 after acquiring an additional 4,883 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Enbridge by 0.3% in the 1st quarter. Sei Investments Co. now owns 316,801 shares of the pipeline company’s stock valued at $14,600,000 after acquiring an additional 968 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $32.97 on Wednesday. The business’s fifty day moving average price is $35.05 and its 200-day moving average price is $34.66. The stock has a market capitalization of $70.09 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.17 and a beta of 0.84. 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.

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

Analyst Ratings Changes

Several research firms recently issued reports on ENB. Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on Enbridge in a research 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $55.20.

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.