Epoch Investment Partners Inc. Cuts Stock Position in Enbridge Inc. (NYSE:ENB)

Epoch Investment Partners Inc. trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 33.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,227 shares of the pipeline company’s stock after selling 25,813 shares during the period. Epoch Investment Partners Inc.’s holdings in Enbridge were worth $2,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted 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 during the last quarter. GQG Partners LLC boosted its stake in shares of Enbridge by 2.1% in the fourth 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 shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after purchasing an additional 1,040,799 shares in the last quarter. Norges Bank acquired a new position in Enbridge in the 4th quarter valued at $909,415,000. Finally, JPMorgan Chase & Co. lifted its holdings in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ENB. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Enbridge stock opened at $45.32 on Monday. 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 stock has a market cap of $98.76 billion, a P/E ratio of 26.35, a PEG ratio of 3.92 and a beta of 0.80. The company has a 50-day moving average price of $43.15 and a 200 day moving average price of $42.81. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $46.12.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the firm earned $0.64 EPS. Sell-side analysts anticipate 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.