Intech Investment Management LLC Sells 174,753 Shares of Enbridge Inc. (NYSE:ENB)

Intech Investment Management LLC decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 74.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,877 shares of the pipeline company’s stock after selling 174,753 shares during the period. Intech Investment Management LLC’s holdings in Enbridge were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. National Bank of Canada FI boosted its stake in shares of Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 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 buying an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 buying an additional 2,668,692 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 985,546 shares in the last quarter. Finally, Amundi lifted its position in shares of 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 buying an additional 389,419 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $43.73 on Thursday. The firm has a market capitalization of $95.28 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth 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 business has a fifty day moving average of $43.45 and a 200 day moving average of $42.30. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during 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 last year, the business posted $0.64 EPS. As a group, research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ENB. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.