Barings LLC Sells 864 Shares of Enbridge Inc. (NYSE:ENB)

Barings LLC decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,955 shares of the pipeline company’s stock after selling 864 shares during the period. Barings LLC’s holdings in Enbridge were worth $12,799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi raised its stake in Enbridge by 4.2% during the 4th quarter. Amundi now owns 9,639,604 shares of the pipeline company’s stock worth $424,335,000 after buying an additional 389,419 shares during the period. Larson Financial Group LLC raised its stake in Enbridge by 29.1% during the 4th quarter. Larson Financial Group LLC now owns 6,917 shares of the pipeline company’s stock worth $293,000 after buying an additional 1,560 shares during the period. PCJ Investment Counsel Ltd. raised its stake in Enbridge by 168.5% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 216,630 shares of the pipeline company’s stock worth $9,183,000 after buying an additional 135,962 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in Enbridge by 2.3% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 857,666 shares of the pipeline company’s stock worth $36,355,000 after buying an additional 19,353 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in Enbridge during the 4th quarter worth approximately $807,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $42.00 on Friday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The business has a fifty day moving average price of $43.45 and a 200-day moving average price of $42.10. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market capitalization of $91.51 billion, a P/E ratio of 24.42, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $0.64 earnings per share. As a group, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ENB. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada increased their price target on 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 two have given a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average target price 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.