Kayne Anderson Capital Advisors LP cut its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,826,865 shares of the pipeline company's stock after selling 316,400 shares during the quarter. Enbridge comprises 3.8% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 11th largest position. Kayne Anderson Capital Advisors LP owned 0.18% of Enbridge worth $162,374,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Enbridge by 1,514.7% during the 3rd 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. purchased a new position in shares of Enbridge in the fourth quarter valued at approximately $180,941,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. National Bank of Canada FI grew its stake in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock valued at $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Enbridge by 44.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company's stock valued at $156,098,000 after purchasing an additional 1,183,821 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.
Wall Street Analysts Forecast Growth
ENB has been the topic of a number of research analyst reports. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and a consensus target price of $67.00.
Check Out Our Latest Report on ENB
Enbridge Stock Performance
Shares of ENB opened at $42.38 on Wednesday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company's 50 day simple moving average is $43.46 and its 200 day simple moving average is $42.17. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market capitalization of $92.34 billion, a price-to-earnings ratio of 24.64, 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 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 last year, the business posted $0.64 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 2.14 EPS 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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