HBW Advisory Services LLC Sells 19,898 Shares of Enbridge Inc $ENB

Key Points

• HBW Advisory Services LLC cut its stake in Enbridge by 27.5%, selling 19,898 shares in Q4 and leaving 52,385 shares valued at about $2.51 million.
• Analysts' consensus is a Moderate Buy with an average price target of $65, reflecting mixed but generally positive sentiment (seven Buy, six Hold ratings).
• Enbridge recently beat quarterly EPS estimates (reported $0.63 vs. $0.60 expected); the stock trades around $54.36 with a market cap near $118.7 billion.

HBW Advisory Services LLC lowered its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 27.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,385 shares of the pipeline company's stock after selling 19,898 shares during the quarter. HBW Advisory Services LLC's holdings in Enbridge were worth $2,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ENB. Tsfg LLC grew its stake in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 379 shares during the period. Triumph Capital Management acquired a new position in Enbridge in the third quarter valued at about $26,000. Highline Wealth Partners LLC grew its stake in Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 236 shares during the period. Turning Point Benefit Group Inc. acquired a new position in Enbridge in the third quarter valued at about $28,000. Finally, True Wealth Design LLC grew its stake in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company's stock valued at $30,000 after acquiring an additional 500 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ENB. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Tuesday, February 17th. Citigroup reissued a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. Scotiabank reissued an "outperform" rating on shares of Enbridge in a research note on Tuesday, February 17th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Tuesday, February 17th. Finally, TD Securities cut Enbridge from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Enbridge Price Performance

NYSE:ENB opened at $54.36 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The stock's 50 day moving average price is $53.04 and its two-hundred day moving average price is $49.58. The firm has a market capitalization of $118.71 billion, a price-to-earnings ratio of 23.64 and a beta of 0.63. Enbridge Inc has a 12-month low of $42.14 and a 12-month high of $55.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.