Diversify Advisory Services LLC Sells 1,348 Shares of Enbridge Inc. (NYSE:ENB)

Diversify Advisory Services LLC trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,307 shares of the pipeline company’s stock after selling 1,348 shares during the quarter. Diversify Advisory Services LLC’s holdings in Enbridge were worth $925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sei Investments Co. boosted its position in shares of Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC boosted its position in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 13,515 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge during the 1st quarter valued at approximately $1,133,000. International Assets Investment Management LLC boosted its position in shares of Enbridge by 734.1% during the 3rd quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company’s stock valued at $36,200,000 after acquiring an additional 784,535 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of Enbridge by 29.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock valued at $6,810,000 after acquiring an additional 38,231 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Stock Performance

NYSE:ENB opened at $40.60 on Thursday. The stock’s fifty day moving average is $40.69 and its 200 day moving average is $37.87. Enbridge Inc. has a fifty-two week low of $31.68 and a fifty-two week high of $42.16. The firm has a market capitalization of $86.64 billion, a PE ratio of 20.61, a PEG ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

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, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Company 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.