Swiss National Bank Trims Position in Enbridge Inc $ENB

Swiss National Bank decreased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,272,931 shares of the pipeline company’s stock after selling 349,500 shares during the quarter. Swiss National Bank’s holdings in Enbridge were worth $316,600,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Enbridge during the second quarter worth about $1,113,368,000. Canada Pension Plan Investment Board increased its stake in shares of Enbridge by 38.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock valued at $599,556,000 after acquiring an additional 3,687,334 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after acquiring an additional 3,217,961 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Enbridge by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after acquiring an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Enbridge in the second quarter worth approximately $132,105,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ENB shares. Royal Bank Of Canada upped their price target on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Performance

Shares of ENB stock opened at $54.08 on Monday. 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 company has a market cap of $117.99 billion, a PE ratio of 23.51 and a beta of 0.67. The company’s fifty day simple moving average is $49.62 and its 200-day simple moving average is $48.60. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.42.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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. The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the prior year, the firm earned $0.75 EPS. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Company 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.