Kepler Cheuvreux Suisse SA Buys New Stake in Enbridge Inc $ENB

Kepler Cheuvreux Suisse SA purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 148,616 shares of the pipeline company’s stock, valued at approximately $7,499,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. boosted its holdings in shares of Enbridge by 83.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock worth $104,284,000 after acquiring an additional 1,044,093 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Enbridge by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after purchasing an additional 221,976 shares in the last quarter. Trajan Wealth LLC raised its position in Enbridge by 15.3% in the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after purchasing an additional 106,784 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after purchasing an additional 24,165 shares in the last quarter. Finally, Capital Advisors Inc. OK boosted its stake in Enbridge by 5.7% in the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company’s stock worth $48,026,000 after purchasing an additional 51,645 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.4%

Shares of ENB opened at $53.72 on Wednesday. The business’s fifty day moving average price is $49.86 and its two-hundred day moving average price is $48.69. The firm has a market capitalization of $117.20 billion, a price-to-earnings ratio of 23.35 and a beta of 0.67. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.42. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The company had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average target price of $65.00.

About Enbridge

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.