148,616 Shares in Enbridge Inc $ENB Bought by Kepler Cheuvreux Suisse SA

Key Points

• Kepler Cheuvreux Suisse SA opened a new position in Enbridge, buying 148,616 shares in Q3 valued at about $7.5 million.
• Large institutions are heavily invested—Vanguard now owns ~98.3 million shares (~$4.96B), Norges Bank added a new stake worth ~$1.11B, and institutional investors hold 54.60% of the stock.
• Analysts show a consensus "Moderate Buy" with an average target of $65.00; Enbridge recently beat EPS estimates ($0.63 vs. $0.60) and trades near $53.72 with a market cap of ~$117.2B.

Kepler Cheuvreux Suisse SA bought a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 148,616 shares of the pipeline company's stock, valued at approximately $7,499,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Enbridge by 2.0% in the third quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company's stock worth $4,959,009,000 after purchasing an additional 1,892,491 shares during the period. TD Asset Management Inc boosted its stake in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company's stock valued at $2,019,473,000 after purchasing an additional 137,897 shares during the period. Norges Bank acquired a new stake in Enbridge in the 2nd quarter valued at approximately $1,113,368,000. Legal & General Group Plc grew its holdings in Enbridge by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company's stock valued at $853,669,000 after buying an additional 207,243 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Enbridge by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company's stock worth $818,620,000 after buying an additional 2,989,992 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research analyst reports. Weiss Ratings upgraded Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Citigroup restated a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. Zacks Research upgraded shares of Enbridge from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. JPMorgan Chase & Co. downgraded shares of Enbridge from an "overweight" rating to a "neutral" rating in a report on Tuesday, January 27th. Finally, Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $53.72 on Wednesday. The firm has a market capitalization of $117.20 billion, a PE ratio of 23.35 and a beta of 0.67. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.42. The business's 50 day moving average is $49.86 and its 200-day moving average is $48.69.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the prior year, the company posted $0.75 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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