Vanguard Group Inc. Acquires 2,067,516 Shares of Enbridge Inc $ENB

Vanguard Group Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,364,993 shares of the pipeline company's stock after purchasing an additional 2,067,516 shares during the quarter. Vanguard Group Inc. owned about 4.60% of Enbridge worth $4,802,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Fin Capital Inc. raised its stake in Enbridge by 1.3% during the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company's stock valued at $767,000 after purchasing an additional 213 shares during the period. IHT Wealth Management LLC raised its stake in 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 purchasing an additional 213 shares during the period. Copperleaf Capital LLC increased its stake in Enbridge by 3.6% in the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company's stock worth $319,000 after acquiring an additional 217 shares during the last quarter. PFG Advisors increased its stake in Enbridge by 4.2% in the 3rd quarter. PFG Advisors now owns 5,479 shares of the pipeline company's stock worth $276,000 after acquiring an additional 223 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Enbridge by 3.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,851 shares of the pipeline company's stock worth $328,000 after acquiring an additional 227 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

ENB opened at $52.48 on Tuesday. The business has a fifty day moving average of $53.39 and a 200 day moving average of $49.82. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $55.44. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The stock has a market cap of $114.58 billion, a P/E ratio of 22.82 and a beta of 0.63.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business earned $0.75 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.22 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.

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