Neuberger Berman Group LLC Has $69.44 Million Holdings in Enbridge Inc $ENB

Neuberger Berman Group LLC cut its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,376,314 shares of the pipeline company’s stock after selling 13,989 shares during the quarter. Neuberger Berman Group LLC owned 0.06% of Enbridge worth $69,444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. boosted its position in shares of Enbridge by 83.1% in the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock worth $104,284,000 after buying an additional 1,044,093 shares during the period. Jones Financial Companies Lllp raised its position in Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after buying an additional 221,976 shares during the period. Trajan Wealth LLC raised its position in Enbridge by 15.3% during the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after buying an additional 106,784 shares during the period. Principal Financial Group Inc. lifted its stake in Enbridge by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after acquiring an additional 24,165 shares in the last quarter. Finally, Aviva PLC lifted its stake in Enbridge by 6.7% in the 2nd quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock worth $80,959,000 after acquiring an additional 112,305 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Up 0.4%

ENB opened at $54.08 on Friday. The firm has a market cap of $117.99 billion, a P/E ratio of 23.51 and a beta of 0.67. 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 50 day moving average price of $49.62 and a 200 day moving average price of $48.59. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $54.42.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the company posted $0.75 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

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.