Enbridge Inc. (NYSE:ENB) is Intact Investment Management Inc.'s 9th Largest Position

Intact Investment Management Inc. reduced its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,460,173 shares of the pipeline company's stock after selling 247,692 shares during the period. Enbridge accounts for 2.2% of Intact Investment Management Inc.'s portfolio, making the stock its 9th biggest holding. Intact Investment Management Inc. owned 0.07% of Enbridge worth $61,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ENB. Assetmark Inc. lifted its position in shares of Enbridge by 30.5% during the 3rd quarter. Assetmark Inc. now owns 54,542 shares of the pipeline company's stock valued at $2,215,000 after buying an additional 12,743 shares in the last quarter. Versor Investments LP lifted its position in shares of Enbridge by 9.5% during the 3rd quarter. Versor Investments LP now owns 9,200 shares of the pipeline company's stock valued at $374,000 after buying an additional 800 shares in the last quarter. Apollon Wealth Management LLC raised its stake in Enbridge by 13.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 56,893 shares of the pipeline company's stock valued at $2,311,000 after purchasing an additional 6,683 shares during the period. Entropy Technologies LP bought a new stake in Enbridge during the 3rd quarter valued at approximately $624,000. Finally, Souders Financial Advisors bought a new stake in Enbridge during the 3rd quarter valued at approximately $201,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

ENB has been the topic of several recent analyst reports. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

NYSE:ENB traded up $0.31 during trading hours on Friday, reaching $42.86. The stock had a trading volume of 2,041,656 shares, compared to its average volume of 4,301,787. 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. The company has a 50 day moving average price of $43.45 and a two-hundred day moving average price of $42.21. The stock has a market capitalization of $93.38 billion, a PE ratio of 24.92, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (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 business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share 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.