Barrow Hanley Mewhinney & Strauss LLC Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

Barrow Hanley Mewhinney & Strauss LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,031,638 shares of the pipeline company’s stock after selling 2,963,889 shares during the quarter. Enbridge accounts for 2.6% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 4th largest holding. Barrow Hanley Mewhinney & Strauss LLC owned 0.83% of Enbridge worth $765,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its stake in Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after buying an additional 9,621,425 shares during the last quarter. Maridea Wealth Management LLC purchased a new position in Enbridge in the fourth quarter valued at approximately $678,000. Orion Portfolio Solutions LLC grew its holdings in Enbridge by 8.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 50,021 shares of the pipeline company’s stock valued at $2,122,000 after purchasing an additional 3,754 shares during the period. Premier Fund Managers Ltd increased its position in Enbridge by 85.9% in the fourth quarter. Premier Fund Managers Ltd now owns 278,800 shares of the pipeline company’s stock worth $11,724,000 after buying an additional 128,800 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Enbridge by 10.6% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,439,951 shares of the pipeline company’s stock valued at $61,097,000 after buying an additional 137,819 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.2 %

ENB stock opened at $44.43 on Friday. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78. The firm has a market capitalization of $96.82 billion, a PE ratio of 25.83, a PEG ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a 50-day simple moving average of $43.49 and a two-hundred day simple moving average of $42.49.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, CIBC restated 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 given a buy rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus 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.