Swiss Life Asset Management Ltd Grows Stake in Enbridge Inc $ENB

Swiss Life Asset Management Ltd increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 276,434 shares of the pipeline company’s stock after buying an additional 44,524 shares during the period. Swiss Life Asset Management Ltd’s holdings in Enbridge were worth $13,966,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Investment Research Partners LLC purchased a new stake in shares of Enbridge in the 3rd quarter valued at about $410,000. CIBC Bancorp USA Inc. purchased a new stake in Enbridge in the third quarter valued at approximately $26,493,000. Blue Fin Capital Inc. lifted its position in Enbridge by 11.5% during the third quarter. Blue Fin Capital Inc. now owns 15,815 shares of the pipeline company’s stock valued at $798,000 after purchasing an additional 1,628 shares during the last quarter. Centaurus Financial Inc. lifted its position in Enbridge by 66.6% during the third quarter. Centaurus Financial Inc. now owns 24,434 shares of the pipeline company’s stock valued at $1,233,000 after purchasing an additional 9,770 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Enbridge by 25.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,128 shares of the pipeline company’s stock worth $360,000 after buying an additional 1,448 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $54.01 on Friday. The firm’s 50 day simple moving average is $50.87 and its two-hundred day simple moving average is $48.97. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.70. The company has a market capitalization of $117.85 billion, a P/E ratio of 23.48 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The business had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the firm earned $0.75 earnings per share. Research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Company Profile

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.