Financial Counselors Inc. Cuts Position in Enbridge Inc. (NYSE:ENB)

Financial Counselors Inc. cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 708,718 shares of the pipeline company’s stock after selling 13,785 shares during the period. Financial Counselors Inc.’s holdings in Enbridge were worth $30,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after buying an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Enbridge in the 4th quarter worth approximately $180,941,000. Vanguard Group Inc. boosted its holdings in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. National Bank of Canada FI increased its position in shares of 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 buying an additional 2,061,758 shares during the period. Finally, GQG Partners LLC lifted its stake in shares of Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $44.44 on Wednesday. The firm has a market cap of $96.84 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.92 and a beta of 0.95. The firm has a fifty day moving average price of $43.48 and a 200 day moving average price of $42.42. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENB. Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus 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.