Sei Investments Co. Sells 4,031 Shares of Enbridge Inc. (NYSE:ENB)

Sei Investments Co. reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 316,328 shares of the pipeline company’s stock after selling 4,031 shares during the quarter. Sei Investments Co.’s holdings in Enbridge were worth $13,422,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ENB. Thrivent Financial for Lutherans increased its position in shares of Enbridge by 23.4% during the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock worth $1,895,000 after buying an additional 8,848 shares during the period. FMR LLC grew its holdings in Enbridge by 9.4% during the 3rd quarter. FMR LLC now owns 4,932,822 shares of the pipeline company’s stock worth $200,384,000 after acquiring an additional 425,706 shares during the period. BNP Paribas Financial Markets raised its position in shares of Enbridge by 734.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after acquiring an additional 47,063 shares in the last quarter. CreativeOne Wealth LLC lifted its stake 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 valued at $325,000 after purchasing an additional 2,152 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Enbridge by 3.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 912,570 shares of the pipeline company’s stock worth $37,112,000 after purchasing an additional 30,063 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ENB. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada increased their target price 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 reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Trading Up 0.2 %

NYSE ENB opened at $44.43 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 $45.78. The business has a 50 day moving average price of $43.49 and a 200-day moving average price of $42.47. The company has a market cap of $96.82 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating 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 business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.