Enbridge Inc. (NYSE:ENB) Shares Sold by ClearBridge Investments Ltd

ClearBridge Investments Ltd lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,379,459 shares of the pipeline company’s stock after selling 39,441 shares during the period. Enbridge comprises approximately 3.8% of ClearBridge Investments Ltd’s holdings, making the stock its 12th biggest holding. ClearBridge Investments Ltd’s holdings in Enbridge were worth $146,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC lifted its holdings in shares of Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after acquiring an additional 7,986 shares in the last quarter. Aviso Financial Inc. boosted its position in shares of Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after buying an additional 58,176 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.2 %

NYSE:ENB opened at $44.43 on Friday. The stock has a fifty day simple moving average of $43.49 and a 200 day simple moving average of $42.49. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $96.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1-year low of $32.86 and a 1-year 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 (EPS) 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 during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on ENB shares. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $67.00.

About Enbridge

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.