Enbridge Inc $ENB Stock Holdings Lifted by Assetmark Inc.

Key Points

• Assetmark Inc. boosted its Q4 stake in Enbridge by 5.4% to 693,992 shares (about $33.19M), and several other institutions also raised positions — roughly 54.6% of ENB is owned by hedge funds and institutional investors.
• Analyst coverage is mixed but tilting positive: Enbridge has a consensus rating of "Moderate Buy" with an average price target of $65, following a series of upgrades and downgrades from firms including Weiss, TD Securities, Zacks and Scotiabank.
• Enbridge reported Q4 EPS of $0.63 (vs. $0.60 est.) and revenue of $17.18B, and the stock trades around $52.98 with a market cap of $115.69B and a P/E of 23.03.

Assetmark Inc. lifted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 693,992 shares of the pipeline company's stock after acquiring an additional 35,556 shares during the period. Assetmark Inc.'s holdings in Enbridge were worth $33,194,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ENB. Jones Financial Companies Lllp grew its position in Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company's stock valued at $83,176,000 after purchasing an additional 221,976 shares in the last quarter. Trajan Wealth LLC grew its position in Enbridge by 15.3% during the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company's stock valued at $40,583,000 after purchasing an additional 106,784 shares in the last quarter. Principal Financial Group Inc. grew its position in Enbridge by 7.7% during the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company's stock valued at $17,113,000 after purchasing an additional 24,165 shares in the last quarter. Capital Advisors Inc. OK grew its position in Enbridge by 5.7% during the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company's stock valued at $48,026,000 after purchasing an additional 51,645 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company's stock valued at $53,652,000 after acquiring an additional 41,601 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ENB. Weiss Ratings upgraded shares of Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. TD Securities cut shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Zacks Research upgraded shares of Enbridge from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. Scotiabank restated an "outperform" rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Enbridge Trading Down 0.9%

Shares of ENB stock opened at $52.98 on Wednesday. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $55.44. The firm's fifty day simple moving average is $53.22 and its 200 day simple moving average is $49.63. The firm has a market capitalization of $115.69 billion, a P/E ratio of 23.03 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.55 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.