QV Investors Inc. Cuts Holdings in Enbridge Inc $ENB

QV Investors Inc. reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,094,686 shares of the pipeline company’s stock after selling 84,835 shares during the quarter. Enbridge makes up about 4.3% of QV Investors Inc.’s holdings, making the stock its 6th biggest holding. QV Investors Inc. owned about 0.05% of Enbridge worth $52,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Savvy Advisors Inc. increased its position in shares of Enbridge by 29.7% during the fourth quarter. Savvy Advisors Inc. now owns 5,708 shares of the pipeline company’s stock valued at $273,000 after buying an additional 1,306 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Enbridge in the fourth quarter worth about $88,000. Aspiriant LLC lifted its holdings in Enbridge by 6.5% in the fourth quarter. Aspiriant LLC now owns 5,790 shares of the pipeline company’s stock worth $277,000 after buying an additional 353 shares during the period. Perigon Wealth Management LLC boosted its position in Enbridge by 32.0% during the 4th quarter. Perigon Wealth Management LLC now owns 10,534 shares of the pipeline company’s stock valued at $504,000 after acquiring an additional 2,555 shares in the last quarter. Finally, Aberdeen Group plc boosted its position in Enbridge by 16.7% during the 4th quarter. Aberdeen Group plc now owns 452,299 shares of the pipeline company’s stock valued at $21,633,000 after acquiring an additional 64,799 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE ENB opened at $54.16 on Friday. The company has a 50 day simple moving average of $52.46 and a two-hundred day simple moving average of $49.41. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $55.44. The company has a market capitalization of $118.20 billion, a price-to-earnings ratio of 23.55 and a beta of 0.63. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.75 EPS. Analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

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.