Financial Counselors Inc. Lowers Holdings in Enbridge Inc. (NYSE:ENB)

Financial Counselors Inc. decreased its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 708,718 shares of the pipeline company's stock after selling 13,785 shares during the period. Financial Counselors Inc.'s holdings in Enbridge were worth $30,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. GQG Partners LLC raised its position in Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares during the period. TD Asset Management Inc. lifted its holdings in Enbridge by 2.8% during 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. National Bank of Canada FI increased its stake in shares of 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 worth $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock worth $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENB. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada upped their target price 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 began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Trading Up 0.2 %

Shares of ENB traded up $0.07 during midday trading on Friday, reaching $44.43. The company had a trading volume of 2,281,331 shares, compared to its average volume of 4,410,981. The firm has a 50 day simple moving average of $43.49 and a 200-day simple moving average of $42.49. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a market cap of $96.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its 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. The company had revenue of $11.59 billion for 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 business posted $0.64 EPS. Research analysts forecast that Enbridge Inc. will post 2.14 EPS 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.