Scheer Rowlett & Associates Investment Management Ltd. cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,043,385 shares of the pipeline company’s stock after selling 3,232 shares during the quarter. Enbridge makes up 2.6% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 13th biggest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Enbridge were worth $37,801,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ENB. Norges Bank acquired a new position in shares of Enbridge in the fourth quarter worth approximately $552,827,000. Harvest Fund Advisors LLC bought a new stake in Enbridge in the fourth quarter worth approximately $263,042,000. Energy Income Partners LLC increased its holdings in Enbridge by 6,035.2% in the fourth quarter. Energy Income Partners LLC now owns 7,137,359 shares of the pipeline company’s stock worth $221,829,000 after purchasing an additional 7,021,025 shares in the last quarter. Bank of Nova Scotia increased its holdings in Enbridge by 64.8% in the fourth quarter. Bank of Nova Scotia now owns 11,871,528 shares of the pipeline company’s stock worth $368,967,000 after purchasing an additional 4,667,244 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in Enbridge in the first quarter worth approximately $225,056,000. 56.95% of the stock is currently owned by institutional investors and hedge funds.
ENB has been the subject of a number of research analyst reports. Bank of America reiterated a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. UBS Group downgraded Enbridge from a “buy” rating to a “neutral” rating in a report on Friday, February 8th. Scotia Howard Weill downgraded Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, March 4th. Zacks Investment Research downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, National Bank Financial downgraded Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 target price for the company. in a report on Monday, March 4th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.46.
Shares of NYSE ENB traded up $0.21 during midday trading on Tuesday, hitting $37.56. 56,791 shares of the stock traded hands, compared to its average volume of 3,506,032. The company has a market cap of $75.58 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 2.40 and a beta of 0.69. Enbridge Inc has a one year low of $28.82 and a one year high of $37.96. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.92.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. During the same quarter in the previous year, the company posted $0.82 earnings per share. On average, equities research analysts anticipate that Enbridge Inc will post 1.85 earnings per share for the current year.
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Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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