Aberdeen Group plc Acquires 64,799 Shares of Enbridge Inc $ENB

Aberdeen Group plc lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,299 shares of the pipeline company’s stock after purchasing an additional 64,799 shares during the period. Aberdeen Group plc’s holdings in Enbridge were worth $21,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Nova Scotia increased its holdings in Enbridge by 118.0% in the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after acquiring an additional 5,157,030 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Enbridge by 38.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock valued at $599,556,000 after buying an additional 3,687,334 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of Enbridge by 43.7% during the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after buying an additional 2,016,674 shares in the last quarter. Vanguard Group Inc. raised its holdings in Enbridge by 2.0% during the third quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock valued at $4,959,009,000 after acquiring an additional 1,892,491 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Enbridge in the third quarter valued at about $88,407,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ENB shares. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup reiterated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Up 0.0%

Shares of NYSE ENB opened at $54.16 on Monday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $55.44. The firm has a 50-day simple moving average of $52.46 and a two-hundred day simple moving average of $49.41. The company has a market cap of $118.20 billion, a P/E ratio of 23.55 and a beta of 0.63. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the prior year, the firm posted $0.75 earnings per share. Research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.