Zurcher Kantonalbank Zurich Cantonalbank Purchases 34,563 Shares of Enbridge Inc $ENB

Key Points

• Zurcher Kantonalbank increased its stake in Enbridge by 3.3% in Q4, buying 34,563 shares to hold 1,077,238 shares worth $51.616 million.
• Analyst sentiment is mixed but tilting positive: seven Buys vs six Holds, a consensus rating of "Moderate Buy" and an average price target of $65, with several recent upgrades and at least one downgrade.
• Recent results and metrics: Enbridge has a market cap of $114.08B, reported a Q4 EPS beat ($0.63 vs $0.60) and $17.18B in revenue, with a P/E of 22.72 and debt-to-equity of 1.70; institutional investors own about 54.6% of the stock.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,077,238 shares of the pipeline company's stock after buying an additional 34,563 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Enbridge were worth $51,616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tsfg LLC increased its stake in shares of Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 379 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Enbridge during the 3rd quarter worth $26,000. Highline Wealth Partners LLC lifted its position in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company's stock worth $28,000 after buying an additional 236 shares during the last quarter. Turning Point Benefit Group Inc. acquired a new stake in Enbridge in the third quarter valued at about $28,000. Finally, True Wealth Design LLC boosted its stake in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company's stock valued at $30,000 after buying an additional 500 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ENB. Zacks Research raised Enbridge from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. Scotiabank reaffirmed an "outperform" rating on shares of Enbridge in a report on Tuesday, February 17th. Weiss Ratings upgraded shares of Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research note on Tuesday, February 17th. Finally, TD Securities lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $65.00.

Enbridge Stock Performance

NYSE:ENB opened at $52.25 on Tuesday. The stock has a market cap of $114.08 billion, a P/E ratio of 22.72 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The stock's 50-day moving average is $53.39 and its 200-day moving average is $49.71. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $55.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (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 the consensus estimate of $9.10 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Equities research analysts anticipate that Enbridge Inc will post 2.24 earnings per share for the current year.

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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