ClearBridge Investments Ltd Trims Stock Position in Enbridge Inc. (NYSE:ENB)

ClearBridge Investments Ltd trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,379,459 shares of the pipeline company’s stock after selling 39,441 shares during the quarter. Enbridge makes up approximately 3.8% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 12th biggest holding. ClearBridge Investments Ltd owned about 0.16% of Enbridge worth $146,128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ENB. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new position in shares of Enbridge during the 4th quarter valued at about $29,000. Wintrust Investments LLC boosted its stake in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in Enbridge during the fourth quarter valued at approximately $42,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Trading Up 0.2 %

Shares of ENB stock 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. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78. The company’s 50-day moving average price is $43.49 and its 200-day moving average price is $42.49. The stock 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 (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the business posted $0.64 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current 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.