Enbridge Inc $ENB Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Enbridge by 19.3% in Q3, buying 47,463 shares to own 292,827 shares valued at about $14.77 million.
• Analysts maintain a consensus Moderate Buy on ENB with a $65 target; recent activity includes RBC raising its target to $76 while TD cut its rating to "hold" (seven Buys vs. six Holds).
• Enbridge delivered an EPS beat of $0.63 vs. $0.60 and reported $17.18 billion in revenue for the quarter, and the stock trades near $53.72 with a $117.2 billion market cap and a 23.35 P/E.

American Century Companies Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 19.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 292,827 shares of the pipeline company's stock after purchasing an additional 47,463 shares during the period. American Century Companies Inc.'s holdings in Enbridge were worth $14,773,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Tsfg LLC raised its stake 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 raised its position in Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company's stock worth $28,000 after buying an additional 236 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Enbridge in the 2nd quarter worth $29,000. True Wealth Design LLC lifted its stake in shares of Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company's stock worth $30,000 after acquiring an additional 500 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Enbridge in the second quarter valued at about $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ENB shares. TD Securities lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective on Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. Scotiabank reissued an "outperform" rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Citigroup restated a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Enbridge Stock Performance

NYSE ENB opened at $53.72 on Wednesday. The business has a 50 day moving average price of $49.86 and a 200 day moving average price of $48.69. The company has a market capitalization of $117.20 billion, a P/E ratio of 23.35 and a beta of 0.67. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.42. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

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