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

Quadrant Capital Group LLC decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 40.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 38,198 shares of the pipeline company’s stock after selling 25,472 shares during the period. Quadrant Capital Group LLC’s holdings in Enbridge were worth $1,927,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ENB. Brighton Jones LLC purchased a new position in Enbridge in the 4th quarter valued at approximately $261,000. AQR Capital Management LLC raised its holdings in 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 last quarter. Acadian Asset Management LLC boosted its position in Enbridge by 58.4% during the second quarter. Acadian Asset Management LLC now owns 208,513 shares of the pipeline company’s stock worth $9,443,000 after purchasing an additional 76,842 shares in the last quarter. PFG Advisors purchased a new stake in Enbridge during the second quarter worth $238,000. Finally, ProShare Advisors LLC grew its holdings in Enbridge by 5.6% in the second quarter. ProShare Advisors LLC now owns 230,854 shares of the pipeline company’s stock valued at $10,468,000 after purchasing an additional 12,143 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ENB. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Performance

Enbridge stock opened at $53.65 on Friday. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $54.42. The company has a market capitalization of $117.05 billion, a price-to-earnings ratio of 23.33 and a beta of 0.67. The stock has a fifty day moving average of $50.09 and a two-hundred day moving average of $48.76. 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 issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the prior year, the business earned $0.75 earnings per share. On average, analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

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.