Cannell & Spears LLC reduced its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 70.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,850 shares of the pipeline company's stock after selling 135,290 shares during the quarter. Cannell & Spears LLC's holdings in Enbridge were worth $2,412,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Enbridge in the fourth quarter valued at approximately $909,415,000. Arrowstreet Capital Limited Partnership grew its stake in Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after acquiring an additional 9,621,425 shares during the period. Raymond James Financial Inc. purchased a new stake in Enbridge in the 4th quarter worth $180,941,000. Vanguard Group Inc. raised its position in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock valued at $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on ENB. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup assumed coverage on Enbridge in a research note on Friday. They issued a "buy" rating on the stock. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $67.00.
View Our Latest Research Report on ENB
Enbridge Price Performance
Shares of NYSE:ENB traded down $1.32 during midday trading on Friday, hitting $44.02. The company had a trading volume of 2,694,401 shares, compared to its average volume of 4,393,910. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $46.12. The stock has a market cap of $95.93 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 business's 50-day simple moving average is $43.49 and its 200-day simple moving average is $42.59.
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 for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 EPS. On average, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.
About Enbridge
(
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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