CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Raises Position in Enbridge Inc $ENB

Key Points

• Cushing Asset Management LP dba NXG Investment Management
• Enbridge beat quarterly EPS estimates, reporting $0.63 vs. $0.60 and revenue of $17.18B; analysts maintain a "Moderate Buy" consensus with an average price target of $65.00.
• ENB trades around $52.70 with a market cap of $115.06B, a P/E of 22.91, and a 52-week range of $43.59–$55.44, while institutional investors own roughly 54.6% of the company.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 19.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 601,500 shares of the pipeline company's stock after purchasing an additional 100,000 shares during the period. Enbridge makes up approximately 1.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 21st largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Enbridge were worth $28,770,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ENB. Brighton Jones LLC purchased a new position in Enbridge during the 4th quarter valued at about $261,000. AQR Capital Management LLC increased its holdings in Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company's stock valued at $1,264,000 after acquiring an additional 11,599 shares in the last quarter. AXA S.A. increased its holdings in Enbridge by 15.5% during the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company's stock valued at $5,161,000 after acquiring an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC increased its holdings in Enbridge by 93.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company's stock valued at $1,042,000 after acquiring an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Enbridge by 80.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company's stock valued at $3,553,000 after acquiring an additional 34,912 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Trading Up 0.2%

Shares of ENB stock opened at $52.70 on Friday. The stock has a market cap of $115.06 billion, a price-to-earnings ratio of 22.91 and a beta of 0.63. 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 Inc has a fifty-two week low of $43.59 and a fifty-two week high of $55.44. The firm's 50 day moving average price is $53.36 and its two-hundred day moving average price is $49.69.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. TD Securities downgraded Enbridge from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Tuesday, February 17th. Zacks Research upgraded Enbridge from a "strong sell" rating to a "hold" rating in a report on Monday, December 29th. Scotiabank reiterated an "outperform" rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has an average rating of "Moderate Buy" and a consensus target price 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.

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