BB&T Securities LLC boosted its holdings in shares of Enbridge (NYSE:ENB) (TSE:ENB) by 18.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 929,430 shares of the pipeline company’s stock after purchasing an additional 147,652 shares during the period. BB&T Securities LLC owned 0.06% of Enbridge worth $36,349,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in Enbridge by 791.4% in the 4th quarter. Mackenzie Financial Corp now owns 36,258,925 shares of the pipeline company’s stock valued at $1,418,087,000 after buying an additional 32,191,347 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Enbridge by 122.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 18,522,957 shares of the pipeline company’s stock worth $724,433,000 after purchasing an additional 10,214,307 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Enbridge by 8.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,259,897 shares of the pipeline company’s stock worth $1,965,665,000 after purchasing an additional 3,768,790 shares during the last quarter. Capital International Investors boosted its position in shares of Enbridge by 7.8% in the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after purchasing an additional 2,984,467 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Enbridge by 11.5% in the 4th quarter. CIBC Asset Management Inc now owns 21,964,753 shares of the pipeline company’s stock worth $862,620,000 after purchasing an additional 2,260,733 shares during the last quarter. 63.22% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ENB traded down $0.26 during trading on Friday, reaching $31.23. 2,744,914 shares of the stock were exchanged, compared to its average volume of 4,323,509. Enbridge has a 12 month low of $29.54 and a 12 month high of $42.92. The stock has a market cap of $53,381.54, a PE ratio of 20.28, a P/E/G ratio of 2.00 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 1.05.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.39 billion. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. equities research analysts expect that Enbridge will post 1.75 earnings per share for the current year.
ENB has been the topic of several recent analyst reports. Mizuho initiated coverage on Enbridge in a report on Thursday, March 29th. They set a “neutral” rating on the stock. Bank of America began coverage on Enbridge in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Morgan Stanley dropped their price target on Enbridge from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. Finally, ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.67.
In related news, insider Robert R. Rooney acquired 6,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was acquired at an average cost of $40.80 per share, for a total transaction of $248,880.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. J. Phelps sold 18,054 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $34.00, for a total value of $613,836.00. Following the completion of the sale, the director now owns 56,245 shares of the company’s stock, valued at $1,912,330. The disclosure for this sale can be found here.
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Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in 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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