Legal & General Group Plc Sells 5,242,719 Shares of Enbridge Inc. (NYSE:ENB)

Legal & General Group Plc decreased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,379,516 shares of the pipeline company's stock after selling 5,242,719 shares during the quarter. Legal & General Group Plc owned about 0.84% of Enbridge worth $779,690,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Verition Fund Management LLC increased its position in shares of Enbridge by 13.5% during the 3rd quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company's stock valued at $310,000 after purchasing an additional 910 shares during the last quarter. Morse Asset Management Inc purchased a new stake in shares of Enbridge in the third quarter valued at $106,000. Quantinno Capital Management LP lifted its holdings in shares of Enbridge by 30.6% in the 3rd quarter. Quantinno Capital Management LP now owns 35,610 shares of the pipeline company's stock worth $1,447,000 after acquiring an additional 8,349 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Enbridge by 27.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 26,997 shares of the pipeline company's stock worth $1,080,000 after purchasing an additional 5,806 shares during the period. Finally, Insigneo Advisory Services LLC grew its holdings in Enbridge by 10.3% during the 3rd quarter. Insigneo Advisory Services LLC now owns 13,367 shares of the pipeline company's stock valued at $544,000 after purchasing an additional 1,249 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ENB shares. Royal Bank of Canada boosted their target price on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Stock Up 0.3 %

Shares of Enbridge stock traded up $0.11 during trading on Thursday, hitting $41.88. 3,522,475 shares of the stock traded hands, compared to its average volume of 4,447,326. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock's fifty day simple moving average is $43.17 and its 200 day simple moving average is $42.64. The firm has a market cap of $91.27 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $46.12.

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

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.