Nuveen Asset Management LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 93.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,959 shares of the pipeline company’s stock after selling 1,645,430 shares during the quarter. Nuveen Asset Management LLC’s holdings in Enbridge were worth $3,518,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in ENB. Johnson Midwest Financial LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at about $27,000. McCarthy Asset Management Inc. acquired a new position in Enbridge during the fourth quarter worth approximately $27,000. Reby Advisors LLC acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $29,000. Costello Asset Management INC acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $31,000. Finally, Pflug Koory LLC lifted its stake in Enbridge by 191.4% during the fourth quarter. Pflug Koory LLC now owns 1,218 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 800 shares during the last quarter. 51.11% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on ENB shares. TD Securities upped their price target on shares of Enbridge from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, February 16th. Credit Suisse Group upped their price target on shares of Enbridge from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, January 29th. National Bank Financial restated an “outperform” rating on shares of Enbridge in a report on Wednesday, January 27th. Stifel Nicolaus decreased their price objective on Enbridge from $58.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, February 16th. Finally, CIBC decreased their price objective on Enbridge from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Enbridge has a consensus rating of “Buy” and an average price target of $52.00.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, February 11th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.10. Enbridge had a net margin of 5.57% and a return on equity of 8.50%. The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $10.04 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. Equities research analysts forecast that Enbridge Inc. will post 1.91 EPS for the current fiscal year.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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