M&T Bank Corp Decreases Position in Enbridge Inc. (NYSE:ENB)

M&T Bank Corp decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 332,722 shares of the pipeline company’s stock after selling 1,285 shares during the quarter. M&T Bank Corp’s holdings in Enbridge were worth $14,117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Atria Investments Inc boosted its position in shares of Enbridge by 0.6% in the fourth quarter. Atria Investments Inc now owns 82,667 shares of the pipeline company’s stock worth $3,508,000 after buying an additional 463 shares during the period. Assetmark Inc. boosted its position in shares of Enbridge by 271.6% in the fourth quarter. Assetmark Inc. now owns 202,701 shares of the pipeline company’s stock worth $8,601,000 after buying an additional 148,159 shares during the period. Keybank National Association OH boosted its position in shares of Enbridge by 1.7% in the fourth quarter. Keybank National Association OH now owns 21,683 shares of the pipeline company’s stock worth $920,000 after buying an additional 363 shares during the period. Torray Investment Partners LLC boosted its position in shares of Enbridge by 0.9% in the fourth quarter. Torray Investment Partners LLC now owns 125,053 shares of the pipeline company’s stock worth $5,306,000 after buying an additional 1,062 shares during the period. Finally, Exencial Wealth Advisors LLC boosted its holdings in Enbridge by 3.3% in the fourth quarter. Exencial Wealth Advisors LLC now owns 51,055 shares of the pipeline company’s stock valued at $2,166,000 after purchasing an additional 1,636 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 2.5 %

Shares of ENB opened at $42.60 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a 50-day moving average price of $43.45 and a 200 day moving average price of $42.07. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a market capitalization of $92.82 billion, a P/E ratio of 24.76, a P/E/G ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the business posted $0.64 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of analyst reports. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge 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.