Enbridge Inc. (NYSE:ENB) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,611 shares of the pipeline company’s stock after selling 18,587 shares during the period. Prudential Financial Inc.’s holdings in Enbridge were worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ENB. Congress Wealth Management LLC DE bought a new stake in Enbridge in the fourth quarter valued at about $325,000. Twin City Private Wealth LLC increased its holdings in shares of Enbridge by 5.1% in the 4th quarter. Twin City Private Wealth LLC now owns 56,970 shares of the pipeline company’s stock valued at $2,417,000 after acquiring an additional 2,786 shares during the last quarter. Vanguard Group Inc. raised its position 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 acquiring an additional 3,611,421 shares in the last quarter. LPL Financial LLC lifted its stake in Enbridge by 4.3% during the fourth quarter. LPL Financial LLC now owns 3,070,336 shares of the pipeline company’s stock worth $130,274,000 after purchasing an additional 127,242 shares during the last quarter. Finally, Guardian Partners Inc. bought a new stake in Enbridge during the fourth quarter valued at $34,745,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the topic of a number of recent research reports. Citigroup assumed coverage on shares of Enbridge in a research report on Friday. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their target price 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. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

ENB opened at $43.34 on Friday. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $46.12. The stock has a market cap of $94.44 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The business’s 50 day moving average is $43.45 and its 200-day moving average is $42.62. 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 (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company 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 firm posted $0.64 EPS. On average, analysts predict 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.