Estabrook Capital Management Reduces Position in Enbridge Inc (ENB)

Estabrook Capital Management reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,642 shares of the pipeline company’s stock after selling 988 shares during the period. Estabrook Capital Management’s holdings in Enbridge were worth $175,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its holdings in Enbridge by 58.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Front Row Advisors LLC increased its holdings in Enbridge by 3,985.7% during the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 837 shares in the last quarter. Csenge Advisory Group bought a new stake in Enbridge during the 3rd quarter worth approximately $28,000. Rockland Trust Co. bought a new stake in Enbridge during the 4th quarter worth approximately $28,000. Finally, We Are One Seven LLC bought a new stake in Enbridge during the 4th quarter worth approximately $28,000. 55.97% of the stock is currently owned by institutional investors and hedge funds.

ENB has been the subject of a number of recent research reports. Scotiabank lowered Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, March 4th. National Bank Financial lowered Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 price objective for the company. in a report on Monday, March 4th. CIBC reissued a “buy” rating and set a $57.00 price objective on shares of Enbridge in a report on Tuesday, January 15th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a report on Monday, December 31st. Finally, Wolfe Research raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, January 7th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Enbridge presently has an average rating of “Buy” and an average target price of $46.46.



ENB stock opened at $37.05 on Friday. The company has a market capitalization of $74.94 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.30 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.58 and a quick ratio of 0.49. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $37.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 15th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. The company had revenue of $8.75 billion during the quarter, compared to analyst estimates of $12.27 billion. Enbridge had a return on equity of 8.72% and a net margin of 5.64%. During the same period in the prior year, the company posted $0.61 earnings per share. Analysts anticipate that Enbridge Inc will post 1.73 earnings per share for the current fiscal year.

In other news, insider Allen C. Capps sold 6,514 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total value of $241,148.28. Following the completion of the transaction, the insider now directly owns 3,437 shares of the company’s stock, valued at $127,237.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Albert Monaco bought 7,806 shares of Enbridge stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $49.33 per share, with a total value of $385,069.98. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 9,406 shares of company stock valued at $459,513. 0.48% of the stock is currently owned by corporate insiders.

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Enbridge Company 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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Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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