Capital International Inc. CA reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,007,009 shares of the pipeline company’s stock after selling 56,905 shares during the quarter. Enbridge comprises about 1.7% of Capital International Inc. CA’s portfolio, making the stock its 11th biggest position. Capital International Inc. CA owned 0.15% of Enbridge worth $119,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in Enbridge by 746.5% in the fourth quarter. Capital Research Global Investors now owns 20,004,472 shares of the pipeline company’s stock valued at $795,378,000 after acquiring an additional 17,641,163 shares during the last quarter. Capital International Investors boosted its stake in Enbridge by 9.6% in the fourth quarter. Capital International Investors now owns 127,704,228 shares of the pipeline company’s stock valued at $5,078,255,000 after acquiring an additional 11,134,156 shares during the last quarter. Zimmer Partners LP boosted its stake in Enbridge by 319.7% in the third quarter. Zimmer Partners LP now owns 8,327,790 shares of the pipeline company’s stock valued at $292,269,000 after acquiring an additional 6,343,790 shares during the last quarter. Toronto Dominion Bank boosted its stake in Enbridge by 24.2% in the fourth quarter. Toronto Dominion Bank now owns 14,611,513 shares of the pipeline company’s stock valued at $599,968,000 after acquiring an additional 2,842,668 shares during the last quarter. Finally, M&G Investment Management Ltd. bought a new position in Enbridge in the fourth quarter valued at approximately $62,967,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.
ENB traded up $1.50 during mid-day trading on Thursday, hitting $30.04. The stock had a trading volume of 4,133,139 shares, compared to its average volume of 8,353,107. The stock’s fifty day simple moving average is $36.46 and its 200-day simple moving average is $37.39. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.55 and a quick ratio of 0.47. The firm has a market capitalization of $54.51 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.67. Enbridge Inc has a 1-year low of $22.57 and a 1-year high of $43.15.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Enbridge had a return on equity of 8.74% and a net margin of 11.38%. The company had revenue of $9.36 billion for the quarter, compared to analyst estimates of $9.53 billion. As a group, research analysts expect that Enbridge Inc will post 1.9 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the stock. Bank of America assumed coverage on shares of Enbridge in a research note on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price objective on the stock. ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Barclays upgraded shares of Enbridge to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday. Goldman Sachs Group lowered shares of Enbridge from a “neutral” rating to a “sell” rating and cut their target price for the stock from $52.00 to $51.00 in a report on Sunday, February 23rd. Finally, CIBC reiterated a “buy” rating and issued a $56.00 target price on shares of Enbridge in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $51.08.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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