Barings LLC Has $12.80 Million Stake in Enbridge Inc. (NYSE:ENB)

Barings LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,955 shares of the pipeline company’s stock after selling 864 shares during the quarter. Barings LLC’s holdings in Enbridge were worth $12,799,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. McIlrath & Eck LLC grew its stake in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge in the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new position in Enbridge in the third quarter valued at approximately $37,000. Dixon Mitchell Investment Counsel Inc. boosted its stake in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Enbridge in the fourth quarter valued at approximately $42,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Price Performance

Enbridge stock opened at $42.00 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The stock has a market capitalization of $91.51 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The stock has a fifty day moving average of $43.45 and a 200-day moving average of $42.10.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the company posted $0.64 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.