Enbridge Inc. (NYSE:ENB) Stake Lowered by Glenview Trust co

Glenview Trust co cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,984 shares of the pipeline company’s stock after selling 476 shares during the period. Glenview Trust co’s holdings in Enbridge were worth $339,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. National Bank of Canada FI boosted its holdings in 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 valued at $737,754,000 after acquiring an additional 2,061,758 shares during the period. JPMorgan Chase & Co. raised its position in Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Geode Capital Management LLC raised its position in Enbridge by 10.8% in the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares in the last quarter. Finally, Amundi raised its position in Enbridge by 4.2% in the fourth quarter. Amundi now owns 9,639,604 shares of the pipeline company’s stock worth $424,335,000 after purchasing an additional 389,419 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

ENB opened at $43.47 on Tuesday. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78. 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’s 50 day simple moving average is $43.46 and its 200-day simple moving average is $42.26. The stock has a market capitalization of $94.73 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating 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 business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on shares of Enbridge in a research note 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.