Linscomb Wealth Inc. Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Linscomb Wealth Inc. decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 26.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,899 shares of the pipeline company’s stock after selling 3,827 shares during the period. Linscomb Wealth Inc.’s holdings in Enbridge were worth $394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge in the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC grew its holdings in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Enbridge in the 4th quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the 1st quarter valued at $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in Enbridge during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB traded up $0.33 during trading hours on Friday, reaching $36.66. 3,064,586 shares of the company traded hands, compared to its average volume of 3,749,490. The firm’s 50-day moving average is $35.83 and its 200-day moving average is $35.62. The stock has a market cap of $78.23 billion, a P/E ratio of 18.61, a P/E/G ratio of 3.43 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The firm had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. Equities research analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

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.