Natixis Advisors LLC Increases Holdings in Enbridge Inc $ENB

Key Points

• Natixis Advisors LLC raised its stake in Enbridge by 4.4% in Q3, buying 36,063 shares to hold 861,723 shares worth about $43.48 million.
• Enbridge beat quarterly EPS estimates ($0.63 vs. $0.60) and reported $17.18 billion in revenue; analysts’ consensus rating is a "Moderate Buy" with a $65 target price.
• Institutional investors own 54.60% of the company; the stock trades near $53.96 with a market cap of $117.74 billion and a P/E of 23.46 (52-week range $39.73–$54.42).

Natixis Advisors LLC raised its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 861,723 shares of the pipeline company's stock after purchasing an additional 36,063 shares during the quarter. Natixis Advisors LLC's holdings in Enbridge were worth $43,483,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HUB Investment Partners LLC boosted its position in shares of Enbridge by 6.2% in the third quarter. HUB Investment Partners LLC now owns 205,672 shares of the pipeline company's stock worth $10,378,000 after buying an additional 12,064 shares during the period. Legacy Capital Group California Inc. raised its holdings in shares of Enbridge by 6.1% during the 3rd quarter. Legacy Capital Group California Inc. now owns 5,715 shares of the pipeline company's stock valued at $288,000 after buying an additional 331 shares during the period. Modern Wealth Management LLC lifted its position in Enbridge by 3.7% during the 3rd quarter. Modern Wealth Management LLC now owns 15,460 shares of the pipeline company's stock worth $780,000 after acquiring an additional 545 shares in the last quarter. PJT Investments Corp. lifted its position in Enbridge by 1.4% during the 3rd quarter. PJT Investments Corp. now owns 708,513 shares of the pipeline company's stock worth $35,752,000 after acquiring an additional 9,872 shares in the last quarter. Finally, Sunpointe LLC boosted its holdings in Enbridge by 2.9% in the 3rd quarter. Sunpointe LLC now owns 10,695 shares of the pipeline company's stock worth $540,000 after acquiring an additional 301 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

ENB stock opened at $53.96 on Tuesday. The stock's 50 day moving average is $49.74 and its two-hundred day moving average is $48.65. 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 $117.74 billion, a PE ratio of 23.46 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 EPS for the quarter, beating 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 company had revenue of $17.18 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the prior year, the business posted $0.75 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on ENB. JPMorgan Chase & Co. downgraded shares of Enbridge from an "overweight" rating to a "neutral" rating in a research report on Tuesday, January 27th. TD Securities cut shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. National Bank Financial restated a "sector perform" rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research raised shares of Enbridge from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Tuesday, February 17th. Seven 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 stock has an average rating of "Moderate Buy" and a consensus 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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