Aviva PLC Trims Stake in Enbridge Inc. (NYSE:ENB)

Aviva PLC reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,440,752 shares of the pipeline company’s stock after selling 162,136 shares during the period. Aviva PLC’s holdings in Enbridge were worth $61,027,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares during the period. GQG Partners LLC increased its stake in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after buying an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Enbridge by 2.8% during 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 acquiring an additional 1,040,799 shares during the last quarter. Norges Bank purchased a new position in shares of Enbridge in the fourth quarter valued at approximately $909,415,000. Finally, National Bank of Canada FI boosted its stake in shares of Enbridge by 12.8% in 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 acquiring an additional 2,061,758 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Citigroup started coverage on shares of Enbridge in a research note on Friday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Down 4.4 %

NYSE ENB opened at $43.34 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12. The business’s fifty day simple moving average is $43.45 and its 200-day simple moving average is $42.62. The firm has a market cap of $94.44 billion, a PE ratio of 25.20, a P/E/G ratio of 3.92 and a beta of 0.95.

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

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.