one8zero8 LLC Has $1.24 Million Position in Enbridge Inc (NYSE:ENB)

Key Points

• one8zero8 LLC has reduced its holdings in Enbridge Inc by 23.4%, now owning 28,014 shares valued at approximately $1.24 million.
• Several other institutional investors, including Garde Capital Inc and Wolff Wiese Magana LLC, have also increased their stakes in Enbridge during the 1st quarter.
• Enbridge recently announced earnings of $0.72 EPS, tops analysts' estimates by $0.04, despite a revenue of $7.27 billion falling short of expectations.

one8zero8 LLC reduced its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,014 shares of the pipeline company's stock after selling 8,561 shares during the period. one8zero8 LLC's holdings in Enbridge were worth $1,241,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Garde Capital Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at about $28,000. GeoWealth Management LLC boosted its position in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares in the last quarter. Wolff Wiese Magana LLC boosted its position in shares of Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at about $39,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

Shares of ENB stock opened at $45.00 on Friday. Enbridge Inc has a 1 year low of $36.38 and a 1 year high of $47.44. The firm's 50 day moving average is $45.41 and its 200-day moving average is $44.51. The firm has a market capitalization of $98.11 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 4.20 and a beta of 0.79. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period in the prior year, the business earned $0.92 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

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.

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