Partners Group Holding AG Increases Stock Position in Enbridge Inc $ENB

Partners Group Holding AG raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 309,292 shares of the pipeline company’s stock after purchasing an additional 20,346 shares during the period. Partners Group Holding AG’s holdings in Enbridge were worth $13,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after buying an additional 1,569,879 shares during the period. GQG Partners LLC raised its position in shares of Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the last quarter. TD Asset Management Inc raised its position in shares of Enbridge by 1.6% in the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock worth $1,804,913,000 after purchasing an additional 617,577 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Enbridge by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.0%

Enbridge stock opened at $46.60 on Tuesday. The business has a 50-day simple moving average of $48.35 and a two-hundred day simple moving average of $46.72. The company has a market cap of $101.64 billion, a P/E ratio of 22.96, a P/E/G ratio of 4.31 and a beta of 0.78. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the prior year, the firm posted $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ENB shares. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average price target of $60.50.

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.