Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Enbridge Inc. (NYSE:ENB)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 899,256 shares of the pipeline company's stock after selling 13,314 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Enbridge were worth $38,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock worth $194,938,000 after purchasing an additional 4,502,115 shares during the period. Raymond James Financial Inc. bought a new position in Enbridge during the fourth quarter worth about $180,941,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock worth $498,734,000 after buying an additional 2,668,692 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock worth $737,754,000 after buying an additional 2,061,758 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company's stock worth $168,258,000 after buying an additional 1,472,789 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ENB shares. CIBC reissued an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada increased their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

ENB traded down $0.00 on Thursday, reaching $42.54. The company had a trading volume of 2,511,024 shares, compared to its average volume of 4,348,848. The business has a 50 day simple moving average of $43.46 and a 200 day simple moving average of $42.18. The company has a market cap of $92.69 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its 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 business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm posted $0.64 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.14 EPS 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.