Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 899,256 shares of the pipeline company’s stock after selling 13,314 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Enbridge were worth $38,147,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc grew its stake in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the period. National Bank of Canada FI grew its stake 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 worth $737,754,000 after buying an additional 2,061,758 shares during the period. JPMorgan Chase & Co. grew its stake in Enbridge by 1.1% during 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Enbridge by 27.8% during 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 during the period. Finally, Geode Capital Management LLC boosted its stake 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 valued at $416,431,000 after purchasing an additional 985,546 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ENB shares. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Up 1.6 %

Shares of NYSE:ENB opened at $42.69 on Tuesday. The stock has a market capitalization of $93.01 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company’s fifty day moving average is $43.46 and its two-hundred day moving average is $42.15. 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 (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, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.64 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

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.