Brown Brothers Harriman & Co. Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

Brown Brothers Harriman & Co. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 31.1% during the fourth quarter, Holdings Channel reports. The firm owned 6,136 shares of the pipeline company’s stock after selling 2,776 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Enbridge were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. FMR LLC boosted its position in shares of Enbridge by 9.4% during the third quarter. FMR LLC now owns 4,932,822 shares of the pipeline company’s stock valued at $200,384,000 after purchasing an additional 425,706 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Enbridge by 734.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock valued at $2,171,000 after buying an additional 47,063 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of Enbridge by 36.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,996 shares of the pipeline company’s stock worth $325,000 after buying an additional 2,152 shares during the period. Verition Fund Management LLC increased its stake in shares of Enbridge by 13.5% in the 3rd quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company’s stock worth $310,000 after acquiring an additional 910 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Enbridge during the 3rd quarter valued at about $1,572,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $44.23 on Tuesday. The stock has a market cap of $96.37 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78. The firm has a fifty day moving average price of $43.49 and a 200-day moving average price of $42.53. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the company posted $0.64 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ENB. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge 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.