Enbridge Inc. (NYSE:ENB) Position Reduced by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 31.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,611 shares of the pipeline company’s stock after selling 18,587 shares during the quarter. Prudential Financial Inc.’s holdings in Enbridge were worth $1,723,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ENB. Metis Global Partners LLC boosted its stake in Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after buying an additional 7,986 shares in the last quarter. Aviso Financial Inc. lifted its holdings in Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after acquiring an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $43.34 on Friday. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $46.12. The company has a market capitalization of $94.44 billion, a price-to-earnings ratio of 25.20, a P/E/G 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. The stock’s fifty day simple moving average is $43.45 and its 200-day simple moving average is $42.62.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Citigroup started coverage on shares of Enbridge in a research report on Friday. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their target price 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 report on Wednesday, March 5th. Finally, TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

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.