Enbridge Inc $ENB Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 9.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,292,211 shares of the pipeline company’s stock after selling 349,009 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Enbridge were worth $157,466,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ENB. Brighton Jones LLC acquired a new position in Enbridge in the fourth quarter worth about $261,000. AQR Capital Management LLC grew its stake in Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares in the last quarter. AXA S.A. grew its stake in Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after purchasing an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC grew its stake in Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after purchasing an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Enbridge by 80.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after purchasing an additional 34,912 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Finally, TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.00.

View Our Latest Stock Analysis on ENB

Enbridge Stock Performance

ENB opened at $54.36 on Monday. The business’s 50 day moving average is $53.04 and its 200-day moving average is $49.58. The stock has a market cap of $118.71 billion, a PE ratio of 23.64 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a twelve month low of $42.14 and a twelve month high of $55.44.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Company Profile

(Free Report)

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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