Tortoise Capital Advisors L.L.C. lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,072,458 shares of the pipeline company’s stock after selling 539,980 shares during the period. Enbridge makes up 2.2% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 17th biggest position. Tortoise Capital Advisors L.L.C. owned approximately 0.45% of Enbridge worth $360,812,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Capital International Ltd. CA boosted its position in Enbridge by 17.0% during the fourth quarter. Capital International Ltd. CA now owns 375,748 shares of the pipeline company’s stock worth $14,955,000 after acquiring an additional 54,659 shares during the last quarter. Capital International Sarl raised its position in Enbridge by 6.6% during the 4th quarter. Capital International Sarl now owns 172,522 shares of the pipeline company’s stock worth $6,861,000 after buying an additional 10,622 shares during the last quarter. Capital International Investors raised its position in Enbridge by 9.6% during the 4th quarter. Capital International Investors now owns 127,704,228 shares of the pipeline company’s stock worth $5,078,255,000 after buying an additional 11,134,156 shares during the last quarter. Capital Research Global Investors raised its position in Enbridge by 746.5% during the 4th quarter. Capital Research Global Investors now owns 20,004,472 shares of the pipeline company’s stock worth $795,378,000 after buying an additional 17,641,163 shares during the last quarter. Finally, Equitable Holdings Inc. purchased a new position in Enbridge during the 4th quarter worth $204,000. 55.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Enbridge stock traded up $1.20 during mid-day trading on Thursday, hitting $29.74. 8,738,069 shares of the stock were exchanged, compared to its average volume of 5,461,565. Enbridge Inc has a twelve month low of $22.57 and a twelve month high of $43.15. The stock has a market capitalization of $54.51 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.41 and a beta of 0.67. The company has a 50-day simple moving average of $36.46 and a 200 day simple moving average of $37.39. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 0.97.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). The company had revenue of $9.36 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Enbridge had a return on equity of 8.74% and a net margin of 11.38%. Equities research analysts forecast that Enbridge Inc will post 1.9 earnings per share for the current fiscal year.
A number of brokerages have commented on ENB. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Friday, March 13th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Monday, January 6th. They issued an “equal weight” rating and a $50.00 price objective 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. Royal Bank of Canada set a $56.00 price objective on shares of Enbridge and gave the company an “outperform” rating in a research note on Saturday, December 21st. Finally, Tudor Pickering raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.08.
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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