First Trust Advisors LP Trims Position in Enbridge Inc $ENB

First Trust Advisors LP decreased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 779,592 shares of the pipeline company’s stock after selling 84,111 shares during the period. First Trust Advisors LP’s holdings in Enbridge were worth $39,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENB. Vanguard Group Inc. raised its stake in Enbridge by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock valued at $4,959,009,000 after acquiring an additional 1,892,491 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after purchasing an additional 137,897 shares during the last quarter. Norges Bank acquired a new position in shares of Enbridge in the second quarter valued at approximately $1,113,368,000. Legal & General Group Plc increased its holdings in shares of Enbridge by 1.1% in the second quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock valued at $853,669,000 after purchasing an additional 207,243 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Enbridge by 20.2% during the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after purchasing an additional 2,989,992 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.0%

Shares of ENB opened at $53.65 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $50.09 and a 200-day simple moving average of $48.76. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.42. The stock has a market cap of $117.05 billion, a price-to-earnings ratio of 23.33 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the prior year, the company earned $0.75 EPS. Equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ENB. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.