JPMorgan Chase & Co. Cuts Holdings in Enbridge Inc. (NYSE:ENB)

JPMorgan Chase & Co. reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,963,565 shares of the pipeline company’s stock after selling 179,073 shares during the period. JPMorgan Chase & Co. owned approximately 0.73% of Enbridge worth $677,334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. apricus wealth LLC increased its position in shares of Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after buying an additional 230 shares during the period. Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. Finally, Eagle Bay Advisors LLC boosted its holdings in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ENB. Royal Bank of Canada raised their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Shares of ENB opened at $44.43 on Friday. 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 firm has a market cap of $96.82 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78. The stock has a 50 day moving average of $43.49 and a 200-day moving average of $42.47.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Company 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.