Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Enbridge Inc (NYSE:ENB)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Enbridge Inc by 4.0% during Q1, now holding 935,190 shares valued at approximately $41.38 million.
• Enbridge reported an EPS of $0.72 for the last quarter, surpassing the consensus estimate of $0.68, despite revenues of $7.27 billion falling short of the anticipated $10.20 billion.
• Analysts have mixed opinions on Enbridge, with five advising a buy rating and five recommending a hold, leading to a current consensus rating of Moderate Buy with a target price of $67.00.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 935,190 shares of the pipeline company's stock after buying an additional 35,934 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Enbridge were worth $41,384,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ENB. Garde Capital Inc. purchased a new position in Enbridge in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Enbridge in the first quarter valued at approximately $28,000. GeoWealth Management LLC grew its position in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in Enbridge during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Enbridge stock opened at $45.00 on Monday. The stock has a market cap of $98.11 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 4.19 and a beta of 0.79. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The stock has a 50 day moving average of $45.41 and a 200-day moving average of $44.51. Enbridge Inc has a 52 week low of $36.38 and a 52 week high of $47.44.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ENB shares. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. National Bankshares reaffirmed 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. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

About Enbridge

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.

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