ClearBridge Investments Ltd Trims Stock Holdings in Enbridge Inc. (NYSE:ENB)

ClearBridge Investments Ltd trimmed its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,379,459 shares of the pipeline company's stock after selling 39,441 shares during the period. Enbridge comprises 3.8% of ClearBridge Investments Ltd's investment portfolio, making the stock its 12th biggest holding. ClearBridge Investments Ltd owned approximately 0.16% of Enbridge worth $146,128,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares in the last quarter. Norges Bank acquired a new stake in Enbridge during the 4th quarter worth approximately $909,415,000. Finally, National Bank of Canada FI boosted its position in Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock valued at $737,754,000 after buying an additional 2,061,758 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ENB shares. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Up 0.6 %

Shares of Enbridge stock traded up $0.27 during trading on Wednesday, hitting $44.84. 827,101 shares of the stock were exchanged, compared to its average volume of 4,385,334. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm's 50-day moving average price is $43.47 and its 200 day moving average price is $42.56. The stock has a market cap of $97.71 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (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 during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.64 EPS. As a group, analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.