Duff & Phelps Investment Management Co. Sells 129,838 Shares of Enbridge Inc $ENB

Key Points

• Duff & Phelps Investment Management trimmed its stake in Enbridge by 9.4%, selling 129,838 shares and leaving it with 1,254,913 shares worth about $63.3 million (roughly 0.06% of the company) at quarter-end.
• Several large institutions added to or initiated positions—Norges Bank bought a new stake valued at about $1.113 billion, Canada Pension Plan Investment Board boosted its holding by 38.7% to 13.21 million shares, and Vanguard and Geode also increased exposure; institutional investors now own about 54.6% of Enbridge.
• Enbridge has a market cap of roughly $117.0 billion, recently beat quarterly EPS estimates ($0.63 vs. $0.60), and carries a consensus Wall Street rating of "Moderate Buy" with an average price target of $65 (RBC raised its target to $76).

Duff & Phelps Investment Management Co. lowered its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 9.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,254,913 shares of the pipeline company's stock after selling 129,838 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.06% of Enbridge worth $63,323,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Enbridge during the 2nd quarter valued at $1,113,368,000. Canada Pension Plan Investment Board boosted 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 buying an additional 3,687,334 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Enbridge by 3.5% in the second quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company's stock worth $4,371,580,000 after acquiring an additional 3,217,961 shares during the period. Geode Capital Management LLC grew its holdings in shares of Enbridge by 20.2% in the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company's stock worth $818,620,000 after acquiring an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in Enbridge during the second quarter valued at $132,105,000. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $53.63 on Thursday. The company has a market capitalization of $117.01 billion, a price-to-earnings ratio of 23.32 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 Inc has a 52 week low of $39.73 and a 52 week high of $54.42. The firm has a 50 day moving average of $49.97 and a 200 day moving average of $48.72.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research raised shares of Enbridge from a "strong sell" rating to a "hold" rating in a report on Monday, December 29th. Citigroup reaffirmed a "buy" rating on shares of Enbridge in a report on Thursday, February 19th. TD Securities lowered shares of Enbridge from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. Royal Bank Of Canada raised their price objective on Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings raised shares of Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Enbridge Company 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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