Zurcher Kantonalbank Zurich Cantonalbank Acquires 117,092 Shares of Enbridge Inc. (NYSE:ENB)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 807,385 shares of the pipeline company’s stock after acquiring an additional 117,092 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Enbridge were worth $29,207,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ENB. Quilter Plc bought a new position in shares of Enbridge during the 1st quarter worth approximately $293,879,000. Coppell Advisory Solutions Corp. bought a new position in shares of Enbridge during the 4th quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Enbridge during the 4th quarter worth approximately $25,000. Coppell Advisory Solutions LLC bought a new position in shares of Enbridge during the 2nd quarter worth approximately $26,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Enbridge during the 1st quarter worth approximately $27,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Trading Down 2.3 %

Shares of ENB stock opened at $32.97 on Wednesday. The company has a 50 day moving average of $35.05 and a 200-day moving average of $34.66. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The firm has a market cap of $70.09 billion, a P/E ratio of 15.70, a PEG ratio of 3.17 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Sell-side analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current year.

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.