Allspring Global Investments Holdings LLC Has $4.99 Million Stock Position in Enbridge Inc $ENB

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,233 shares of the pipeline company’s stock after selling 39,180 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Enbridge were worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Brookstone Capital Management raised its position in Enbridge by 43.3% during the fourth quarter. Brookstone Capital Management now owns 73,316 shares of the pipeline company’s stock valued at $3,507,000 after buying an additional 22,137 shares during the period. apricus wealth LLC raised its position in Enbridge by 11.2% during the fourth quarter. apricus wealth LLC now owns 26,900 shares of the pipeline company’s stock valued at $1,287,000 after buying an additional 2,715 shares during the period. J. Safra Sarasin Holding AG raised its position in Enbridge by 11.1% during the fourth quarter. J. Safra Sarasin Holding AG now owns 14,500 shares of the pipeline company’s stock valued at $694,000 after buying an additional 1,446 shares during the period. Wealth Quarterback LLC raised its position in Enbridge by 20.0% during the fourth quarter. Wealth Quarterback LLC now owns 23,792 shares of the pipeline company’s stock valued at $1,138,000 after buying an additional 3,966 shares during the period. Finally, Columbus Macro LLC raised its position in Enbridge by 7.5% during the fourth quarter. Columbus Macro LLC now owns 331,453 shares of the pipeline company’s stock valued at $15,873,000 after buying an additional 23,043 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $53.76 on Tuesday. 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 fifty-two week low of $39.73 and a fifty-two week high of $55.44. The stock’s 50-day moving average is $52.58 and its two-hundred day moving average is $49.44. The firm has a market cap of $117.31 billion, a P/E ratio of 23.37 and a beta of 0.63.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, Royal Bank Of Canada upped their target price on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.