Mediolanum International Funds Ltd Decreases Stock Position in Enbridge Inc (NYSE:ENB)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Enbridge Inc by 16.7%, selling 25,484 shares during the first quarter, which brought their total to 127,310 shares worth approximately $5.67 million.
• Analysts have a consensus rating of "Moderate Buy" for Enbridge, with a consensus price target of $67.00 per share.
• Enbridge's recent earnings report showed an EPS of $0.72, exceeding estimates, though total revenue was lower than expected at $7.27 billion.

Mediolanum International Funds Ltd decreased its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 16.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,310 shares of the pipeline company's stock after selling 25,484 shares during the quarter. Mediolanum International Funds Ltd's holdings in Enbridge were worth $5,671,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC acquired a new stake in shares of Enbridge in the fourth quarter worth $261,000. American Century Companies Inc. lifted its holdings in shares of Enbridge by 3.1% in the 4th quarter. American Century Companies Inc. now owns 223,023 shares of the pipeline company's stock valued at $9,466,000 after buying an additional 6,603 shares during the period. Congress Wealth Management LLC DE purchased a new stake in shares of Enbridge in the fourth quarter worth about $325,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Enbridge by 49.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,431 shares of the pipeline company's stock worth $2,272,000 after acquiring an additional 17,700 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in Enbridge by 8.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 50,021 shares of the pipeline company's stock valued at $2,122,000 after acquiring an additional 3,754 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Up 1.0%

Enbridge stock traded up $0.43 during trading on Tuesday, reaching $45.06. The stock had a trading volume of 2,759,844 shares, compared to its average volume of 4,020,253. Enbridge Inc has a 52-week low of $36.50 and a 52-week high of $47.44. The business has a 50 day moving average price of $45.41 and a 200 day moving average price of $44.52. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock has a market cap of $98.26 billion, a PE ratio of 23.23, a P/E/G ratio of 4.19 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same period in the previous year, the company posted $0.92 EPS. On average, analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent analyst reports. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.