Massachusetts Financial Services Co. MA Cuts Holdings in Enbridge Inc $ENB

Massachusetts Financial Services Co. MA reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,292,211 shares of the pipeline company’s stock after selling 349,009 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.15% of Enbridge worth $157,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. IHT Wealth Management LLC raised its position 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 buying an additional 213 shares during the period. HBK Sorce Advisory LLC raised its position in Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 215 shares during the period. Copperleaf Capital LLC raised its position in Enbridge by 3.6% in the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 217 shares during the period. AdvisorNet Financial Inc raised its position in Enbridge by 2.9% in the third quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 221 shares during the period. Finally, PFG Advisors raised its position in Enbridge by 4.2% in the third quarter. PFG Advisors now owns 5,479 shares of the pipeline company’s stock valued at $276,000 after purchasing an additional 223 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.1%

Shares of Enbridge stock opened at $54.36 on Monday. The business has a 50-day moving average of $53.04 and a 200-day moving average of $49.58. 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 company has a market capitalization of $118.71 billion, a PE ratio of 23.64 and a beta of 0.63. Enbridge Inc has a 1-year low of $42.14 and a 1-year high of $55.44.

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

Wall Street Analysts Forecast Growth

ENB has been the topic of several research reports. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada raised their price objective on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $65.00.

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.