Enbridge Inc. (NYSE:ENB) Shares Sold by Swiss National Bank

Swiss National Bank cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,321,231 shares of the pipeline company’s stock after selling 264,000 shares during the period. Swiss National Bank’s holdings in Enbridge were worth $268,163,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Enbridge in the third quarter worth about $37,000. Dixon Mitchell Investment Counsel Inc. boosted its position in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in Enbridge during the 4th quarter valued at about $42,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enbridge Stock Up 0.8 %

Shares of NYSE ENB opened at $42.64 on Thursday. The company has a market capitalization of $92.90 billion, a P/E ratio of 24.79, 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 current ratio of 0.55 and a quick ratio of 0.54. The company has a 50 day simple moving average of $43.46 and a 200-day simple moving average of $42.17. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78.

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

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.