Enbridge Inc $ENB Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,022,255 shares of the pipeline company’s stock after selling 10,050 shares during the quarter. GW&K Investment Management LLC’s holdings in Enbridge were worth $51,583,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. boosted its stake in Enbridge by 83.1% in the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after acquiring an additional 1,044,093 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Enbridge by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after purchasing an additional 221,976 shares during the last quarter. Trajan Wealth LLC boosted its position in shares of Enbridge by 15.3% in the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after purchasing an additional 106,784 shares during the period. Principal Financial Group Inc. boosted its position in shares of Enbridge by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after purchasing an additional 24,165 shares during the period. Finally, Aviva PLC grew its stake in Enbridge by 6.7% during the 2nd quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock worth $80,959,000 after buying an additional 112,305 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE ENB opened at $54.15 on Thursday. The stock has a fifty day moving average price of $49.36 and a 200 day moving average price of $48.50. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.42. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The company has a market cap of $118.14 billion, a PE ratio of 23.54 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion for 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 in the previous year, the company posted $0.75 EPS. Sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ENB shares. Royal Bank Of Canada boosted their price objective on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.