Federated Hermes Inc. Decreases Stake in Enbridge Inc. (NYSE:ENB)

Federated Hermes Inc. reduced its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,798,936 shares of the pipeline company's stock after selling 545,558 shares during the period. Federated Hermes Inc. owned approximately 0.23% of Enbridge worth $172,858,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company's stock valued at $2,704,715,000 after buying an additional 4,400,848 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in Enbridge by 109,143.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company's stock valued at $1,895,102,000 after buying an additional 48,423,715 shares during the last quarter. Wellington Management Group LLP raised its position in Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company's stock valued at $1,083,938,000 after buying an additional 28,076,386 shares during the last quarter. TD Asset Management Inc raised its position in Enbridge by 2.2% in the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company's stock valued at $1,006,729,000 after buying an additional 664,057 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in Enbridge by 5.1% in the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company's stock valued at $931,516,000 after buying an additional 1,353,753 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENB has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Enbridge in a research report on Thursday, January 18th. They issued a "hold" rating for the company. Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They set a "buy" rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $55.20.

Enbridge Price Performance

NYSE ENB traded up $0.58 during trading hours on Thursday, hitting $33.91. The company had a trading volume of 7,831,906 shares, compared to its average volume of 5,457,855. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. The firm has a 50 day simple moving average of $35.02 and a 200 day simple moving average of $34.64. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The firm has a market capitalization of $72.09 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 3.12 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Equities research analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Profile

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.