CANADA LIFE ASSURANCE Co Trims Position in Enbridge Inc. (NYSE:ENB)

CANADA LIFE ASSURANCE Co reduced its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 17.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,362,095 shares of the pipeline company's stock after selling 485,212 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.11% of Enbridge worth $100,029,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. apricus wealth LLC grew its position in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after buying an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after buying an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. grew its position in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after acquiring an additional 230 shares during the last quarter. Wintrust Investments LLC boosted its stake in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after purchasing an additional 240 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENB has been the subject of several analyst reports. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Price Performance

Shares of ENB stock traded down $0.29 during midday trading on Monday, reaching $45.08. 1,036,186 shares of the company traded hands, compared to its average volume of 4,352,913. The firm's 50 day simple moving average is $43.15 and its two-hundred day simple moving average is $42.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market cap of $98.24 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $46.12.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities research analysts expect that Enbridge Inc. will post 2.14 EPS 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.