Assenagon Asset Management S.A. Purchases 24,990 Shares of Enbridge Inc $ENB

Key Points

• Assenagon Asset Management S.A. boosted its Enbridge stake by 33.2%, purchasing 24,990 shares to hold 100,291 shares valued at about $4.8 million at the end of the quarter.
• Analyst sentiment is mixed but overall positive — seven Buy vs. six Hold ratings — resulting in an average rating of "Moderate Buy" and an average price target of $65.00.
• Enbridge shares recently traded around $54.59 (12‑month range $39.73–$55.11) with a market cap near $119.1 billion, and the company reported a quarterly EPS beat of $0.63 versus the $0.60 consensus.

Assenagon Asset Management S.A. lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 33.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,291 shares of the pipeline company's stock after purchasing an additional 24,990 shares during the period. Assenagon Asset Management S.A.'s holdings in Enbridge were worth $4,803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC bought a new position in Enbridge during the fourth quarter worth $261,000. AQR Capital Management LLC increased its holdings in shares of Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company's stock valued at $1,264,000 after purchasing an additional 11,599 shares during the last quarter. American Century Companies Inc. raised its position in shares of Enbridge by 5.9% in the second quarter. American Century Companies Inc. now owns 245,364 shares of the pipeline company's stock valued at $11,126,000 after purchasing an additional 13,678 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Enbridge by 38.8% in the second quarter. Coldstream Capital Management Inc. now owns 5,680 shares of the pipeline company's stock valued at $257,000 after purchasing an additional 1,588 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of Enbridge by 2.2% during the 2nd quarter. Prudential Financial Inc. now owns 26,266 shares of the pipeline company's stock worth $1,189,000 after buying an additional 557 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENB has been the subject of several research analyst reports. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. JPMorgan Chase & Co. downgraded shares of Enbridge from an "overweight" rating to a "neutral" rating in a research report on Tuesday, January 27th. TD Securities cut Enbridge from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. Weiss Ratings raised Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th. Finally, Zacks Research upgraded Enbridge from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.00.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $54.59 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $55.11. The company's 50 day moving average price is $51.81 and its two-hundred day moving average price is $49.23. The firm has a market cap of $119.13 billion, a PE ratio of 23.73 and a beta of 0.67. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly 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 company had revenue of $17.18 billion during the quarter, compared to the consensus estimate 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 earnings per share. Equities research 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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