Intercontinental Wealth Advisors LLC Trims Stake in Enbridge Inc (ENB)

Intercontinental Wealth Advisors LLC lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 40,154 shares of the pipeline company’s stock after selling 1,163 shares during the period. Intercontinental Wealth Advisors LLC’s holdings in Enbridge were worth $1,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ENB. Parkside Financial Bank & Trust grew its holdings in shares of Enbridge by 58.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 300 shares during the period. Front Row Advisors LLC grew its holdings in shares of Enbridge by 3,985.7% in the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 837 shares during the period. We Are One Seven LLC acquired a new stake in shares of Enbridge in the 4th quarter worth approximately $28,000. First Interstate Bank grew its holdings in shares of Enbridge by 330.9% in the 4th quarter. First Interstate Bank now owns 1,004 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 771 shares during the period. Finally, Country Trust Bank acquired a new stake in shares of Enbridge in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 56.95% of the company’s stock.

In other news, insider Cynthia L. Hansen acquired 799 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $49.13 per share, for a total transaction of $39,254.87. Following the acquisition, the insider now directly owns 105,423 shares in the company, valued at approximately $5,179,431.99. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William T. Yardley sold 14,900 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total value of $551,002.00. Following the sale, the insider now owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Barclays assumed coverage on Enbridge in a report on Tuesday, April 9th. They issued an “overweight” rating on the stock. Credit Suisse Group lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Industrial Alliance Securities reaffirmed a “buy” rating on shares of Enbridge in a research note on Monday, April 8th. Zacks Investment Research raised Enbridge from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, February 5th. Finally, Scotiabank lowered Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $46.46.

ENB stock opened at $37.53 on Monday. The firm has a market cap of $75.95 billion, a PE ratio of 18.31, a PEG ratio of 2.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.64 and a quick ratio of 0.49. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $37.96.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. During the same period in the prior year, the firm posted $0.82 EPS. On average, analysts forecast that Enbridge Inc will post 1.85 earnings per share for the current fiscal year.

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Enbridge Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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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) (TSE:ENB).

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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