Enbridge Inc $ENB Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Key Points

• Barrow Hanley Mewhinney & Strauss cut its Enbridge stake by 34.2% in Q3, selling 1,254,525 shares and retaining 2,409,195 shares worth about $121.6 million (≈0.11% of the company).
• Other large institutions boosted or initiated positions—Norges Bank opened a roughly $1.113 billion stake, Canada Pension Plan and Vanguard materially increased holdings—and institutional investors now own about 54.6% of Enbridge.
• Analyst sentiment is mixed but the consensus is a "Moderate Buy" with a $65 price target; Enbridge recently beat Q results (EPS $0.63 vs. $0.60) and the stock traded near $53.72 with 50- and 200-day moving averages of $49.86 and $48.69 respectively.

Barrow Hanley Mewhinney & Strauss LLC cut its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 34.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,409,195 shares of the pipeline company's stock after selling 1,254,525 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.11% of Enbridge worth $121,568,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Enbridge during the 2nd quarter worth $1,113,368,000. Canada Pension Plan Investment Board grew its position in shares of Enbridge by 38.7% in the second quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company's stock valued at $599,556,000 after purchasing an additional 3,687,334 shares during the period. Vanguard Group Inc. grew its position 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 valued at $4,371,580,000 after purchasing an additional 3,217,961 shares during the period. Geode Capital Management LLC lifted its position in Enbridge by 20.2% during the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company's stock worth $818,620,000 after buying an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in Enbridge during the second quarter worth about $132,105,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ENB shares. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Tuesday, February 17th. Weiss Ratings upgraded shares of Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Zacks Research raised shares of Enbridge from a "strong sell" rating to a "hold" rating in a research report on Monday, December 29th. TD Securities downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered shares of Enbridge from an "overweight" rating to a "neutral" rating in a report on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.00.

Enbridge Trading Down 0.4%

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

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, beating analysts' consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the prior year, the firm posted $0.75 EPS. Sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

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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