Cohen & Steers Inc. Lowers Stock Position in Enbridge Inc. (NYSE:ENB)

Cohen & Steers Inc. cut its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,338 shares of the pipeline company's stock after selling 17,183 shares during the quarter. Cohen & Steers Inc.'s holdings in Enbridge were worth $3,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Enbridge by 101.8% in the 4th quarter. Barclays PLC now owns 1,178,653 shares of the pipeline company's stock worth $50,011,000 after buying an additional 594,633 shares during the period. SageView Advisory Group LLC purchased a new position in Enbridge in the 4th quarter worth approximately $240,000. Carson Advisory Inc. grew its holdings in Enbridge by 4.4% during the 4th quarter. Carson Advisory Inc. now owns 7,218 shares of the pipeline company's stock valued at $306,000 after buying an additional 306 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Enbridge by 17.3% in the fourth quarter. Bragg Financial Advisors Inc now owns 8,597 shares of the pipeline company's stock worth $365,000 after buying an additional 1,271 shares in the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new position in Enbridge during the fourth quarter valued at $709,000. Institutional investors own 54.60% of the company's stock.

Enbridge Trading Up 1.7 %

Shares of ENB traded up $0.75 during midday trading on Friday, hitting $45.32. The stock had a trading volume of 4,781,000 shares, compared to its average volume of 4,404,780. Enbridge Inc. has a 1 year low of $33.35 and a 1 year high of $46.12. The stock's 50 day moving average is $43.15 and its 200 day moving average is $42.75. The firm has a market cap of $98.76 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ENB. CIBC restated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

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.