Horizon Investments LLC Sells 26,023 Shares of Enbridge Inc $ENB

Key Points

• Horizon Investments LLC cut its stake in Enbridge by 36.5%, selling 26,023 shares in Q4 and leaving 45,332 shares valued at about $2.17 million.
• Enbridge beat Q4 EPS expectations ($0.63 vs. $0.60) and reported $17.18 billion in revenue, while analysts remain mixed—MarketBeat shows a consensus "Moderate Buy" with an average price target of $65 (RBC raised its target to $76).

Horizon Investments LLC decreased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 36.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,332 shares of the pipeline company's stock after selling 26,023 shares during the quarter. Horizon Investments LLC's holdings in Enbridge were worth $2,168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Fin Capital Inc. lifted its position in Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company's stock worth $767,000 after purchasing an additional 213 shares during the period. IHT Wealth Management LLC lifted its position in Enbridge by 1.2% during the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company's stock worth $820,000 after purchasing an additional 213 shares during the period. Copperleaf Capital LLC lifted its position in Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company's stock worth $319,000 after purchasing an additional 217 shares during the period. PFG Advisors lifted its position in Enbridge by 4.2% during the third quarter. PFG Advisors now owns 5,479 shares of the pipeline company's stock worth $276,000 after purchasing an additional 223 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its position in Enbridge by 3.4% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,851 shares of the pipeline company's stock worth $328,000 after purchasing an additional 227 shares during the period. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Up 0.3%

Shares of NYSE ENB opened at $54.91 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The company has a market cap of $119.89 billion, a price-to-earnings ratio of 23.87 and a beta of 0.59. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $55.49. The stock has a 50-day moving average price of $53.62 and a two-hundred day moving average price of $50.00.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.75 earnings per share. As a group, analysts forecast that Enbridge Inc will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. TD Securities cut shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Tuesday, February 17th. Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Weiss Ratings raised Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada boosted their target price on Enbridge from $72.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $65.00.

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.

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