abrdn plc Sells 30,600 Shares of Enbridge Inc. (NYSE:ENB)

abrdn plc lessened its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,068,100 shares of the pipeline company's stock after selling 30,600 shares during the quarter. abrdn plc owned approximately 0.05% of Enbridge worth $38,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ENB. Arkadios Wealth Advisors grew its holdings in shares of Enbridge by 26.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 7,381 shares of the pipeline company's stock worth $246,000 after purchasing an additional 1,534 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Enbridge by 108.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 76,603 shares of the pipeline company's stock worth $2,553,000 after purchasing an additional 39,933 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Enbridge by 1.2% during the 3rd quarter. DAVENPORT & Co LLC now owns 2,083,157 shares of the pipeline company's stock worth $69,530,000 after buying an additional 24,382 shares during the period. Founders Financial Securities LLC lifted its position in shares of Enbridge by 14.7% during the 3rd quarter. Founders Financial Securities LLC now owns 45,826 shares of the pipeline company's stock worth $1,521,000 after buying an additional 5,866 shares during the period. Finally, Advisors Management Group Inc. ADV lifted its position in shares of Enbridge by 0.8% during the 3rd quarter. Advisors Management Group Inc. ADV now owns 194,538 shares of the pipeline company's stock worth $6,457,000 after buying an additional 1,452 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Trading Up 0.2 %

Shares of NYSE ENB traded up $0.07 during midday trading on Tuesday, hitting $35.42. The stock had a trading volume of 12,397,320 shares, compared to its average volume of 5,703,786. The company's 50-day simple moving average is $35.05 and its 200 day simple moving average is $34.73. The firm has a market cap of $75.30 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 3.26 and a beta of 0.84. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 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%. Research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ENB shares. Stifel Nicolaus started coverage on Enbridge in a research 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 for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge presently has a consensus rating of "Hold" and a consensus 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.