Mackenzie Financial Corp Trims Stake in Enbridge Inc $ENB

Key Points

• Mackenzie Financial Corp cut its stake in Enbridge by 1.0% in Q3, selling 175,760 shares and now owning 17,318,673 shares (0.79% of Enbridge) valued at $873,523,000, which is 1.1% of Mackenzie’s portfolio and its 18th largest holding.
• Market snapshot: Enbridge shares opened at $53.72, trading near a 52‑week high of $54.42 (low $39.73), with a market capitalization of $117.2B and a price‑to‑earnings ratio of 23.35.
• Earnings and sentiment: Enbridge reported $0.63 EPS versus $0.60 expected and $17.18B in revenue, and analysts have an average rating of "Moderate Buy" with an average target price of $65.00.

Mackenzie Financial Corp cut its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,318,673 shares of the pipeline company's stock after selling 175,760 shares during the period. Enbridge accounts for 1.1% of Mackenzie Financial Corp's portfolio, making the stock its 18th largest holding. Mackenzie Financial Corp owned 0.79% of Enbridge worth $873,523,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ENB. IHT Wealth Management LLC grew its position in shares of Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company's stock valued at $820,000 after acquiring an additional 213 shares during the period. HBK Sorce Advisory LLC raised its holdings in Enbridge by 1.8% in the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company's stock worth $609,000 after purchasing an additional 215 shares during the period. Copperleaf Capital LLC lifted its position in Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company's stock valued at $319,000 after purchasing an additional 217 shares in the last quarter. South Plains Financial Inc. grew its holdings in Enbridge by 13.2% during the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company's stock valued at $85,000 after purchasing an additional 220 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in Enbridge by 2.9% during the third quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company's stock valued at $395,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $53.72 on Wednesday. The stock's 50-day simple moving average is $49.86 and its 200-day simple moving average is $48.69. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.42. The company has a market capitalization of $117.20 billion, a price-to-earnings ratio of 23.35 and a beta of 0.67. 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 released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping 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 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 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on ENB. Zacks Research raised Enbridge from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. Citigroup reiterated a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Tuesday, February 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, TD Securities lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $65.00.

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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