Quadrant Capital Group LLC Trims Stock Position in Enbridge Inc $ENB

Quadrant Capital Group LLC trimmed its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 40.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,198 shares of the pipeline company’s stock after selling 25,472 shares during the quarter. Quadrant Capital Group LLC’s holdings in Enbridge were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $261,000. AQR Capital Management LLC lifted its holdings in shares of Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares during the period. Acadian Asset Management LLC grew its position in Enbridge by 58.4% in the 2nd quarter. Acadian Asset Management LLC now owns 208,513 shares of the pipeline company’s stock valued at $9,443,000 after buying an additional 76,842 shares during the last quarter. PFG Advisors purchased a new position in Enbridge in the 2nd quarter valued at $238,000. Finally, ProShare Advisors LLC increased its stake in Enbridge by 5.6% in the 2nd quarter. ProShare Advisors LLC now owns 230,854 shares of the pipeline company’s stock valued at $10,468,000 after buying an additional 12,143 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Enbridge stock opened at $53.65 on Friday. Enbridge Inc has a one year low of $39.73 and a one year 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. The business has a fifty day moving average of $50.09 and a two-hundred day moving average of $48.76. The company has a market cap of $117.05 billion, a P/E ratio of 23.33 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the previous year, the firm earned $0.75 EPS. As a group, analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge 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.