Ontario Teachers Pension Plan Board Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

Ontario Teachers Pension Plan Board reduced its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 75.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,015 shares of the pipeline company's stock after selling 42,150 shares during the period. Ontario Teachers Pension Plan Board's holdings in Enbridge were worth $594,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Guggenheim Capital LLC grew its position in shares of Enbridge by 4.2% in the fourth quarter. Guggenheim Capital LLC now owns 28,270 shares of the pipeline company's stock valued at $1,199,000 after purchasing an additional 1,128 shares during the period. LaSalle St. Investment Advisors LLC increased its holdings in Enbridge by 107.8% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 32,163 shares of the pipeline company's stock valued at $1,364,000 after purchasing an additional 16,684 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Enbridge during the fourth quarter worth about $773,000. Broyhill Asset Management acquired a new position in Enbridge during the 4th quarter worth $467,000. Finally, Mariner LLC increased its holdings in Enbridge by 5.8% during the 4th quarter. Mariner LLC now owns 255,303 shares of the pipeline company's stock worth $10,832,000 after purchasing an additional 14,095 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

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

Enbridge Price Performance

Enbridge stock traded up $0.75 during trading hours on Friday, hitting $45.32. The stock had a trading volume of 4,781,000 shares, compared to its average volume of 4,391,070. The stock has a market capitalization of $98.76 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1-year low of $33.92 and a 1-year high of $46.12. The stock's fifty day moving average is $43.15 and its two-hundred day moving average is $42.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm posted $0.64 EPS. As a group, analysts predict 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.