OLD National Bancorp IN Reduces Position in Enbridge Inc. (NYSE:ENB)

OLD National Bancorp IN decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,029 shares of the pipeline company’s stock after selling 1,770 shares during the quarter. OLD National Bancorp IN’s holdings in Enbridge were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ENB. Arkadios Wealth Advisors grew its position in shares of Enbridge by 26.2% in the third quarter. Arkadios Wealth Advisors now owns 7,381 shares of the pipeline company’s stock valued at $246,000 after purchasing an additional 1,534 shares during the period. Caprock Group LLC grew its position in shares of Enbridge by 25.2% in the third quarter. Caprock Group LLC now owns 22,323 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 4,497 shares during the period. Hennessy Advisors Inc. grew its position in shares of Enbridge by 3.6% in the third quarter. Hennessy Advisors Inc. now owns 669,565 shares of the pipeline company’s stock valued at $22,223,000 after purchasing an additional 23,000 shares during the period. Blue Fin Capital Inc. grew its position in shares of Enbridge by 7.5% in the third quarter. Blue Fin Capital Inc. now owns 10,075 shares of the pipeline company’s stock valued at $334,000 after purchasing an additional 702 shares during the period. Finally, Verity & Verity LLC grew its position in shares of Enbridge by 6.3% in the third quarter. Verity & Verity LLC now owns 461,115 shares of the pipeline company’s stock valued at $14,839,000 after purchasing an additional 27,473 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.7 %

NYSE ENB opened at $35.67 on Thursday. The company’s fifty day simple moving average is $35.12 and its 200-day simple moving average is $34.77. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. 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 stock 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 (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ENB shares. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.