Clearbridge Investments LLC Has $775.42 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Clearbridge Investments LLC decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,275,318 shares of the pipeline company’s stock after selling 1,342,572 shares during the quarter. Clearbridge Investments LLC’s holdings in Enbridge were worth $775,422,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ENB. Vanguard Group Inc. raised its position in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. GQG Partners LLC grew its holdings in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. increased its position in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Norges Bank bought a new position in shares of Enbridge in the fourth quarter worth about $909,415,000. Finally, National Bank of Canada FI lifted its position in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ENB shares. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $44.43 on Friday. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $96.82 billion, a P/E ratio of 25.83, a PEG ratio of 3.92 and a beta of 0.95. The business has a 50-day moving average of $43.49 and a 200-day moving average of $42.49.

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

Enbridge Company 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.