OLD National Bancorp IN Has $541,000 Position in Enbridge Inc. (NYSE:ENB)

OLD National Bancorp IN lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,029 shares of the pipeline company’s stock after selling 1,770 shares during the period. OLD National Bancorp IN’s holdings in Enbridge were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. acquired a new position in Enbridge during the fourth quarter worth $25,000. Baystate Wealth Management LLC grew its position in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Enbridge during the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. grew its position in Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. bought a new position in Enbridge during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Up 0.7 %

Shares of Enbridge stock opened at $35.67 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company’s fifty day simple moving average is $35.12 and its two-hundred day simple moving average is $34.77. The company has a market cap of $75.83 billion, a P/E ratio of 16.99, a PEG ratio of 3.32 and a beta of 0.84. 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 data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company 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%. Research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

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.