Enbridge Inc $ENB Shares Sold by Morgan Stanley Institutional Investment Advisors LLC

Morgan Stanley Institutional Investment Advisors LLC decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,748,227 shares of the pipeline company’s stock after selling 193,088 shares during the period. Enbridge makes up 47.0% of Morgan Stanley Institutional Investment Advisors LLC’s portfolio, making the stock its largest holding. Morgan Stanley Institutional Investment Advisors LLC’s holdings in Enbridge were worth $390,976,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. IHT Wealth Management LLC grew its holdings in shares of Enbridge by 1.2% in the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the last quarter. HBK Sorce Advisory LLC grew its position in Enbridge by 1.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after acquiring an additional 215 shares during the last quarter. Copperleaf Capital LLC lifted its holdings in Enbridge by 3.6% in the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after buying an additional 217 shares during the period. South Plains Financial Inc. raised its stake in shares of Enbridge by 13.2% in the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Enbridge by 2.9% in the third quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $53.64 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $54.42. The firm’s 50 day moving average is $50.09 and its 200 day moving average is $48.76. The stock has a market capitalization of $117.03 billion, a PE ratio of 23.32 and a beta of 0.67.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average target price of $65.00.

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.