UniSuper Management Pty Ltd Sells 9,200 Shares of Enbridge Inc. (NYSE:ENB)

UniSuper Management Pty Ltd lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,700 shares of the pipeline company’s stock after selling 9,200 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Enbridge were worth $1,769,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ENB. Vanguard Group Inc. boosted its position in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after buying an additional 3,611,421 shares during the period. GQG Partners LLC raised its position in Enbridge by 2.1% during 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 last quarter. TD Asset Management Inc. lifted its holdings in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after buying an additional 1,040,799 shares during the period. National Bank of Canada FI grew its position in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after acquiring an additional 176,733 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the subject of several research reports. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Trading Up 0.2 %

NYSE:ENB opened at $44.43 on Monday. The company has a market cap of $96.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $45.78. The company has a 50 day simple moving average of $43.49 and a two-hundred day simple moving average of $42.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (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 company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.64 earnings per share. Research analysts forecast 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.