Enbridge Inc $ENB Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank trimmed its stake in Enbridge by 5.3%, selling 349,500 shares and leaving ownership at 6,272,931 shares worth about $316.6 million (≈0.29% of the company).
• Wall Street has a consensus Moderate Buy on ENB with an average price target of $65; seven analysts rate Buy and six rate Hold, and RBC recently raised its target to $76.
• Enbridge posted an EPS beat of $0.63 vs. $0.60 expected and reported $17.18 billion in revenue, while the stock trades near $54 (close to its 52‑week high) with a market cap of about $118 billion.

Swiss National Bank cut its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,272,931 shares of the pipeline company's stock after selling 349,500 shares during the period. Swiss National Bank owned approximately 0.29% of Enbridge worth $316,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENB. Tsfg LLC increased its stake in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 379 shares in the last quarter. Highline Wealth Partners LLC boosted its position in Enbridge by 73.1% during 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. purchased a new stake in Enbridge during the second quarter worth $29,000. True Wealth Design LLC grew its holdings in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company's stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Enbridge in the second quarter valued at $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ENB shares. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. Citigroup reissued a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. National Bank Financial restated a "sector perform" rating on shares of Enbridge in a report on Monday, November 10th. JPMorgan Chase & Co. cut shares of Enbridge from an "overweight" rating to a "neutral" rating in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada upped their price target on shares of Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Enbridge Stock Up 0.4%

Shares of NYSE:ENB opened at $54.08 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $117.99 billion, a P/E ratio of 23.51 and a beta of 0.67. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $54.42. The stock's fifty day simple moving average is $49.62 and its 200-day simple moving average is $48.60.

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 analysts' consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm 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 EPS. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share 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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