Thomasville National Bank Purchases 24,993 Shares of Enbridge Inc $ENB

Key Points

• Thomasville National Bank increased its stake in Enbridge by 3.0%, purchasing 24,993 shares to hold 868,003 shares worth $41,517,000, making ENB its 11th-largest position (about 2.6% of the bank's holdings).
• Several large institutions also boosted exposure—Bank of Nova Scotia added 5,157,030 shares (up 118%) to 9,526,380 shares, while Raymond James and Vanguard materially increased their stakes; about 54.6% of ENB is owned by hedge funds and other institutional investors.
• Analysts are mildly bullish on ENB, with a consensus rating of Moderate Buy and an average price target of $65, and the company recently beat quarterly EPS estimates ($0.63 vs. $0.60).

Thomasville National Bank lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 868,003 shares of the pipeline company's stock after purchasing an additional 24,993 shares during the period. Enbridge accounts for about 2.6% of Thomasville National Bank's holdings, making the stock its 11th biggest position. Thomasville National Bank's holdings in Enbridge were worth $41,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Bank of Nova Scotia boosted its stake in shares of Enbridge by 118.0% in the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company's stock worth $480,518,000 after buying an additional 5,157,030 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Enbridge by 43.7% during the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company's stock worth $334,737,000 after acquiring an additional 2,016,674 shares during the period. Vanguard Group Inc. boosted its position in Enbridge by 2.0% in the third quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company's stock worth $4,959,009,000 after purchasing an additional 1,892,491 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in Enbridge in the third quarter worth $88,407,000. Finally, Kayne Anderson Capital Advisors LP grew its stake in Enbridge by 48.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company's stock valued at $232,477,000 after purchasing an additional 1,508,300 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Tuesday, February 17th. Zacks Research upgraded shares of Enbridge from a "strong sell" rating to a "hold" rating in a report on Monday, December 29th. TD Securities cut shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered shares of Enbridge from an "overweight" rating to a "neutral" rating in a research note on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $65.00.

Enbridge Price Performance

ENB stock opened at $52.54 on Friday. The firm has a 50 day moving average of $53.31 and a 200-day moving average of $49.67. 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 Inc has a 12 month low of $43.59 and a 12 month high of $55.44. The firm has a market capitalization of $114.73 billion, a P/E ratio of 22.84 and a beta of 0.63.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 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 business had revenue of $17.18 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts predict 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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