Barclays PLC Trims Stake in Enbridge Inc $ENB

Barclays PLC cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 38.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 794,502 shares of the pipeline company’s stock after selling 502,976 shares during the period. Barclays PLC’s holdings in Enbridge were worth $40,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ENB. IHT Wealth Management LLC increased its stake in shares of Enbridge by 1.2% in the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after buying an additional 215 shares during the period. Copperleaf Capital LLC raised its stake in shares of Enbridge by 3.6% in the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after buying an additional 217 shares during the period. South Plains Financial Inc. lifted its position in shares of Enbridge by 13.2% during the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after buying an additional 220 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Enbridge by 2.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after buying an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.4%

ENB stock opened at $53.72 on Wednesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.42. The business has a 50 day simple moving average of $49.86 and a two-hundred day simple moving average of $48.69. The company has a market capitalization of $117.20 billion, a price-to-earnings ratio of 23.35 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the business posted $0.75 earnings per share. Research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ENB. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Royal Bank Of Canada increased their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

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.