Aberdeen Group plc Acquires 64,799 Shares of Enbridge Inc $ENB

Key Points

• Aberdeen Group plc raised its stake in Enbridge by 16.7% in Q4, buying 64,799 shares to hold 452,299 shares worth about $21.63 million.
• Other major institutions—including Vanguard, TD Asset Management, Scotia, CPP and Amundi—also increased positions, and hedge funds/institutions now own about 54.60% of Enbridge.
• Enbridge recently beat quarterly EPS estimates ($0.63 vs. $0.60), trades around $54.16 with a market cap of $118.2B, and carries an average analyst rating of "Moderate Buy" with a $65 price target.

Aberdeen Group plc boosted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452,299 shares of the pipeline company's stock after purchasing an additional 64,799 shares during the period. Aberdeen Group plc's holdings in Enbridge were worth $21,633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ENB. Vanguard Group Inc. raised its holdings in Enbridge by 2.0% in the 3rd 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 in the last quarter. TD Asset Management Inc grew its position in shares of Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company's stock worth $2,019,473,000 after buying an additional 137,897 shares during the period. Scotia Capital Inc. grew its position in shares of Enbridge by 2.1% in the 3rd quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company's stock worth $723,404,000 after buying an additional 300,391 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Enbridge by 38.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company's stock worth $599,556,000 after acquiring an additional 3,687,334 shares in the last quarter. Finally, Amundi increased its stake in shares of Enbridge by 3.2% in the 3rd quarter. Amundi now owns 9,638,460 shares of the pipeline company's stock worth $479,706,000 after acquiring an additional 295,942 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Trading Up 0.0%

Shares of ENB stock opened at $54.16 on Monday. 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 12-month low of $39.73 and a 12-month high of $55.44. The stock has a market capitalization of $118.20 billion, a P/E ratio of 23.55 and a beta of 0.63. The firm's 50 day moving average is $52.46 and its 200 day moving average is $49.41.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share 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 net margin of 11.30% and a return on equity of 11.19%. During the same period in the previous year, the business earned $0.75 EPS. Research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENB. Citigroup reissued a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. TD Securities cut Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an "overweight" rating to a "neutral" rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $65.00.

Enbridge Profile

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.

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.