Enbridge Inc $ENB Stock Holdings Lifted by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,434 shares of the pipeline company’s stock after acquiring an additional 44,524 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Enbridge were worth $13,966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Enbridge during the second quarter valued at about $1,113,368,000. Bank of Nova Scotia grew its position in Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Enbridge by 38.7% in 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 acquiring an additional 3,687,334 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Enbridge by 3.5% during the second quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after purchasing an additional 3,217,961 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Enbridge during the 2nd quarter worth about $132,105,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.5%

ENB opened at $54.01 on Friday. The company’s 50 day moving average price is $50.87 and its two-hundred day moving average price is $48.97. The firm has a market capitalization of $117.85 billion, a price-to-earnings ratio of 23.48 and a beta of 0.67. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $54.70. 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 issued its quarterly 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 for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ENB shares. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Profile

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.