abrdn plc Has $38.47 Million Holdings in Enbridge Inc. (NYSE:ENB)

abrdn plc lessened its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,068,100 shares of the pipeline company’s stock after selling 30,600 shares during the period. abrdn plc owned approximately 0.05% of Enbridge worth $38,473,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new stake in Enbridge in the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its stake in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Enbridge in the fourth quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of Enbridge in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

Shares of ENB opened at $35.35 on Tuesday. The firm has a market cap of $75.15 billion, a PE ratio of 16.83, a PEG ratio of 3.26 and a beta of 0.84. The stock’s fifty day moving average price is $35.05 and its two-hundred day moving average price is $34.73. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, 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.