Enbridge Inc $ENB Position Lifted by Quadrature Capital Ltd

Key Points

• Quadrature Capital Ltd boosted its stake in Enbridge by 999.7% in Q3 to 504,100 shares (an additional 458,259 shares), valued at about $25.44 million.
• Enbridge beat EPS estimates with $0.63 vs. $0.60 consensus and reported revenue of $17.18 billion; analysts have a consensus rating of "Moderate Buy" with an average target of $65 and several recent upgrades (RBC raised its target to $76).
• The stock trades near $53.65 with a market cap of roughly $117.1 billion, a PE of 23.33, and institutional ownership of about 54.6%.

Quadrature Capital Ltd grew its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 999.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,100 shares of the pipeline company's stock after acquiring an additional 458,259 shares during the period. Quadrature Capital Ltd's holdings in Enbridge were worth $25,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Tsfg LLC lifted its position in shares of Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock worth $25,000 after purchasing an additional 379 shares during the last quarter. Highline Wealth Partners LLC grew its stake in Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company's stock worth $28,000 after purchasing an additional 236 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in Enbridge in the second quarter valued at about $29,000. True Wealth Design LLC raised its stake in Enbridge by 588.2% during the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company's stock valued at $30,000 after buying an additional 500 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Enbridge during the second quarter valued at approximately $31,000. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Up 0.0%

NYSE:ENB opened at $53.65 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The stock has a 50 day moving average of $50.09 and a 200-day moving average of $48.76. The firm has a market capitalization of $117.05 billion, a PE ratio of 23.33 and a beta of 0.67. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.42.

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

Wall Street Analyst Weigh In

ENB has been the subject of several research reports. Zacks Research upgraded Enbridge from a "strong sell" rating to a "hold" rating in a research report on Monday, December 29th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Finally, Citigroup reiterated a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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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