Ontario Teachers Pension Plan Board Sells 42,150 Shares of Enbridge Inc. (NYSE:ENB)

Ontario Teachers Pension Plan Board reduced its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 75.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,015 shares of the pipeline company's stock after selling 42,150 shares during the period. Ontario Teachers Pension Plan Board's holdings in Enbridge were worth $594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in Enbridge in the fourth quarter worth $909,415,000. Arrowstreet Capital Limited Partnership lifted its position in Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Raymond James Financial Inc. purchased a new stake in Enbridge in the fourth quarter worth approximately $180,941,000. Vanguard Group Inc. grew its position in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. Finally, Geode Capital Management LLC raised its stake in Enbridge by 30.5% during the 4th quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock valued at $571,389,000 after buying an additional 3,091,442 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Price Performance

Shares of Enbridge stock traded down $0.11 during trading hours on Monday, hitting $45.26. The company's stock had a trading volume of 526,702 shares, compared to its average volume of 4,351,047. The company has a market cap of $98.64 billion, a PE ratio of 26.31, a PEG ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The business has a 50 day moving average price of $43.15 and a two-hundred day moving average price of $42.81. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $46.12.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the company posted $0.64 EPS. Analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.