Enbridge Inc. (NYSE:ENB) Shares Sold by Ninepoint Partners LP

Ninepoint Partners LP decreased its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 20.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 270,000 shares of the pipeline company's stock after selling 69,991 shares during the quarter. Enbridge makes up 1.0% of Ninepoint Partners LP's holdings, making the stock its 11th largest holding. Ninepoint Partners LP's holdings in Enbridge were worth $9,725,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new stake in Enbridge during the 4th quarter valued at approximately $25,000. Coppell Advisory Solutions Corp. bought a new stake in Enbridge in the 4th quarter valued at $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in Enbridge in the 4th quarter worth $25,000. Baystate Wealth Management LLC boosted its holdings in shares of Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in Enbridge during the 2nd quarter valued at approximately $26,000. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Enbridge stock traded up $1.00 during mid-day trading on Friday, reaching $34.90. 10,628,056 shares of the company traded hands, compared to its average volume of 5,528,293. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The firm's fifty day moving average is $35.02 and its two-hundred day moving average is $34.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The company has a market capitalization of $74.20 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 3.15 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, equities research analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ENB. Stifel Nicolaus started coverage on Enbridge in a report on Thursday, January 18th. They set 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 on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $55.20.

About Enbridge

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.