Enbridge Inc. (NYSE:ENB) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,390,206 shares of the pipeline company’s stock after selling 204,711 shares during the period. Enbridge makes up approximately 3.0% of RNC Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. RNC Capital Management LLC owned 0.07% of Enbridge worth $50,075,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Moneta Group Investment Advisors LLC boosted its position in Enbridge by 109,143.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after acquiring an additional 48,423,715 shares during the period. Wellington Management Group LLP boosted its position in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Enbridge by 10.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 30,213,371 shares of the pipeline company’s stock valued at $1,122,427,000 after buying an additional 2,831,889 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Enbridge by 2.2% during the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after buying an additional 664,057 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of NYSE ENB opened at $35.99 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $35.20 and its two-hundred day moving average is $34.57. The company has a market cap of $76.50 billion, a P/E ratio of 17.14, a P/E/G ratio of 3.37 and a beta of 0.83. 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 results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. On average, equities analysts expect that Enbridge Inc. will post 2.11 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENB. Jefferies Financial Group began coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Company 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.