Advisors Management Group Inc. ADV Reduces Holdings in Enbridge Inc $ENB

Advisors Management Group Inc. ADV trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,232 shares of the pipeline company’s stock after selling 14,345 shares during the period. Enbridge comprises approximately 1.5% of Advisors Management Group Inc. ADV’s holdings, making the stock its 19th biggest holding. Advisors Management Group Inc. ADV’s holdings in Enbridge were worth $8,142,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Enbridge by 2.0% during the third quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock worth $4,959,009,000 after buying an additional 1,892,491 shares in the last quarter. TD Asset Management Inc increased its position in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after purchasing an additional 137,897 shares in the last quarter. Norges Bank purchased a new stake in Enbridge during the 2nd quarter worth about $1,113,368,000. Scotia Capital Inc. raised its stake in Enbridge by 2.1% in the 3rd quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock valued at $723,404,000 after purchasing an additional 300,391 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Enbridge by 38.7% in 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 purchasing an additional 3,687,334 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on ENB shares. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Seven 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, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Trading Up 0.2%

Shares of ENB opened at $54.59 on Friday. The stock’s fifty day simple moving average is $51.81 and its 200 day simple moving average is $49.23. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $55.11. 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 firm has a market capitalization of $119.13 billion, a P/E ratio of 23.73 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share 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 analysts’ expectations of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the previous year, the company posted $0.75 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge 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.