First Trust Advisors LP Reduces Holdings in Enbridge Inc. (NYSE:ENB)

First Trust Advisors LP lessened its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,030,940 shares of the pipeline company's stock after selling 126,680 shares during the period. First Trust Advisors LP's holdings in Enbridge were worth $43,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ENB. Norges Bank purchased a new position in Enbridge during the 4th quarter worth approximately $909,415,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Enbridge by 396.7% in the fourth 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 position in shares of Enbridge during the fourth quarter worth approximately $180,941,000. Vanguard Group Inc. increased its holdings in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the period. Finally, Geode Capital Management LLC raised its position in Enbridge by 30.5% in the 4th quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock valued at $571,389,000 after purchasing an additional 3,091,442 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Trading Down 0.1 %

Shares of Enbridge stock opened at $45.58 on Thursday. The company has a 50-day moving average of $43.20 and a two-hundred day moving average of $42.87. The stock has a market cap of $99.33 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $46.12.

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

Wall Street Analysts Forecast Growth

ENB has been the subject of several analyst reports. Royal Bank of Canada upped 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. CIBC restated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $67.00.

About Enbridge

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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