UniSuper Management Pty Ltd reduced its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 18.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,700 shares of the pipeline company's stock after selling 9,200 shares during the quarter. UniSuper Management Pty Ltd's holdings in Enbridge were worth $1,769,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of ENB. Korea Investment CORP grew its holdings in shares of Enbridge by 48.5% during the 4th quarter. Korea Investment CORP now owns 1,480,533 shares of the pipeline company's stock valued at $62,806,000 after purchasing an additional 483,765 shares during the last quarter. Hardin Capital Partners LLC boosted its position in Enbridge by 54.7% during the fourth quarter. Hardin Capital Partners LLC now owns 9,301 shares of the pipeline company's stock valued at $395,000 after buying an additional 3,289 shares during the period. TrueMark Investments LLC grew its stake in shares of Enbridge by 66.0% during the fourth quarter. TrueMark Investments LLC now owns 185,621 shares of the pipeline company's stock valued at $7,876,000 after buying an additional 73,825 shares during the last quarter. Mufg Securities Canada LTD. increased its holdings in shares of Enbridge by 72.1% in the fourth quarter. Mufg Securities Canada LTD. now owns 3,325,954 shares of the pipeline company's stock worth $141,070,000 after buying an additional 1,393,449 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Enbridge during the 4th quarter valued at about $62,000. 54.60% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, CIBC reiterated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.
Get Our Latest Research Report on Enbridge
Enbridge Trading Up 0.6 %
ENB traded up $0.27 during midday trading on Tuesday, reaching $44.58. 2,389,094 shares of the company's stock traded hands, compared to its average volume of 4,400,545. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a fifty day moving average of $43.49 and a two-hundred day moving average of $42.53. The stock has a market capitalization of $97.15 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 3.92 and a beta of 0.95.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The company 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 quarter in the prior year, the company earned $0.64 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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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