Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,454,950 shares of the pipeline company's stock after selling 823,789 shares during the quarter. Enbridge accounts for about 2.2% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 5th largest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.53% of Enbridge worth $485,559,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. apricus wealth LLC grew its stake in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after buying an additional 227 shares during the period. Armstrong Advisory Group Inc. lifted its position in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after buying an additional 230 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after buying an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Enbridge by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock worth $297,000 after acquiring an additional 242 shares in the last quarter. Institutional investors own 54.60% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ENB. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.
Check Out Our Latest Stock Analysis on Enbridge
Enbridge Trading Down 0.0 %
Enbridge stock traded down $0.00 during mid-day trading on Thursday, hitting $42.54. The stock had a trading volume of 2,511,024 shares, compared to its average volume of 4,348,848. The stock has a 50-day simple moving average of $43.46 and a two-hundred day simple moving average of $42.18. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $92.69 billion, a PE ratio of 24.73, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.
Enbridge Profile
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Free Report)
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.
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