Enbridge Inc. (NYSE:ENB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,963,565 shares of the pipeline company’s stock after selling 179,073 shares during the period. JPMorgan Chase & Co.’s holdings in Enbridge were worth $677,334,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Enbridge by 23.4% during the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock worth $1,895,000 after acquiring an additional 8,848 shares during the period. FMR LLC lifted its stake in Enbridge by 9.4% during the third quarter. FMR LLC now owns 4,932,822 shares of the pipeline company’s stock valued at $200,384,000 after purchasing an additional 425,706 shares during the last quarter. BNP Paribas Financial Markets grew its position in Enbridge by 734.9% in the third quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after buying an additional 47,063 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Enbridge by 36.8% in the third quarter. CreativeOne Wealth LLC now owns 7,996 shares of the pipeline company’s stock valued at $325,000 after buying an additional 2,152 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Enbridge by 3.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 912,570 shares of the pipeline company’s stock worth $37,112,000 after acquiring an additional 30,063 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB stock opened at $44.43 on Friday. The stock has a market cap of $96.82 billion, a P/E ratio of 25.83, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a 50 day simple moving average of $43.49 and a 200 day simple moving average of $42.47. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business posted $0.64 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.