Enbridge Inc $ENB Shares Purchased by UBS Group AG

Key Points

• UBS Group AG increased its stake in Enbridge by 6.3% in Q4, purchasing 370,487 shares to hold 6,226,915 shares (about 0.29% of the company) worth roughly $297.8 million.
• Analyst coverage is mixed but positive overall, with seven Buys and six Holds giving a consensus rating of “Moderate Buy” and a consensus price target of $65; some firms raised targets (RBC to $76) while others trimmed ratings.
• Enbridge reported Q results that beat EPS estimates ($0.63 vs. $0.60) and reported revenue of $17.18 billion; the stock was trading around $52.48 with a market cap of $114.6 billion and a P/E of 22.82.

UBS Group AG boosted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,226,915 shares of the pipeline company's stock after buying an additional 370,487 shares during the period. UBS Group AG owned 0.29% of Enbridge worth $297,833,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company's stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. TD Asset Management Inc increased its holdings in shares of Enbridge by 0.3% during the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company's stock valued at $2,019,473,000 after purchasing an additional 137,897 shares during the period. Scotia Capital Inc. increased its holdings in shares of Enbridge by 2.1% during the third quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company's stock valued at $723,404,000 after purchasing an additional 300,391 shares during the period. Amundi increased its holdings in shares of Enbridge by 3.2% during the third quarter. Amundi now owns 9,638,460 shares of the pipeline company's stock valued at $479,706,000 after purchasing an additional 295,942 shares during the period. Finally, Bank of Nova Scotia increased its holdings in shares of Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company's stock valued at $480,518,000 after purchasing an additional 5,157,030 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on ENB shares. Royal Bank Of Canada raised their price target on Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Zacks Research raised Enbridge from a "strong sell" rating to a "hold" rating in a report on Monday, December 29th. TD Securities lowered Enbridge from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. Citigroup reissued a "buy" rating on shares of Enbridge in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. lowered Enbridge from an "overweight" rating to a "neutral" rating in a report on Tuesday, January 27th. Seven 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.00.

Enbridge Trading Down 1.5%

Shares of ENB stock opened at $52.48 on Tuesday. The stock has a 50-day simple moving average of $53.39 and a 200 day simple moving average of $49.82. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $55.44. The stock has a market capitalization of $114.58 billion, a P/E ratio of 22.82 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 (NYSE:ENB - Get Free Report) TSE: ENB last announced 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. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the business posted $0.75 earnings per share. On average, sell-side analysts expect that Enbridge Inc will post 2.22 earnings per share for the current fiscal year.

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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