Financial Counselors Inc. Has $30.07 Million Stake in Enbridge Inc. (NYSE:ENB)

Financial Counselors Inc. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 708,718 shares of the pipeline company’s stock after selling 13,785 shares during the quarter. Financial Counselors Inc.’s holdings in Enbridge were worth $30,071,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ENB. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. GQG Partners LLC raised its stake in shares of Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after buying an additional 176,733 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

NYSE ENB opened at $44.44 on Wednesday. The firm’s 50 day simple moving average is $43.48 and its 200 day simple moving average is $42.42. The firm has a market capitalization of $96.84 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ENB shares. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

About Enbridge

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.