Allworth Financial LP Sells 973 Shares of Enbridge Inc. (NYSE:ENB)

Allworth Financial LP trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,297 shares of the pipeline company’s stock after selling 973 shares during the quarter. Allworth Financial LP’s holdings in Enbridge were worth $459,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ENB. Wealthcare Advisory Partners LLC grew its holdings in Enbridge by 7.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 530 shares during the period. Norden Group LLC acquired a new stake in Enbridge in the first quarter worth $7,656,000. Cornerstone Wealth Management LLC grew its holdings in Enbridge by 3.4% in the first quarter. Cornerstone Wealth Management LLC now owns 28,799 shares of the pipeline company’s stock worth $1,042,000 after purchasing an additional 938 shares during the period. Insight Folios Inc grew its holdings in Enbridge by 6.3% in the first quarter. Insight Folios Inc now owns 166,657 shares of the pipeline company’s stock worth $6,030,000 after purchasing an additional 9,881 shares during the period. Finally, American National Bank & Trust Co. VA acquired a new stake in Enbridge in the first quarter worth $1,102,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Stock Down 1.1 %

Shares of NYSE ENB opened at $40.42 on Wednesday. The stock has a market capitalization of $86.24 billion, a P/E ratio of 20.52, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a 50-day moving average price of $40.66 and a 200-day moving average price of $37.85. Enbridge Inc. has a 1 year low of $31.47 and a 1 year high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the company earned $0.51 earnings per share. On average, equities research analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

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.