Enbridge Inc $ENB Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,254,913 shares of the pipeline company’s stock after selling 129,838 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Enbridge were worth $63,323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tsfg LLC increased its stake in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares in the last quarter. Highline Wealth Partners LLC boosted its position in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 236 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. Financial Gravity Companies Inc. acquired a new stake in Enbridge during the second quarter worth about $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Enbridge during the second quarter worth about $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $53.63 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $54.42. The business has a fifty day moving average of $49.97 and a 200-day moving average of $48.72. The stock has a market cap of $117.01 billion, a price-to-earnings ratio of 23.32 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion during 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 posted $0.75 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, TD Securities downgraded 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 company. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Company 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.