Federated Hermes Inc. Decreases Holdings in Enbridge Inc. (NYSE:ENB)

Federated Hermes Inc. cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,798,936 shares of the pipeline company’s stock after selling 545,558 shares during the quarter. Federated Hermes Inc.’s holdings in Enbridge were worth $172,858,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Enbridge by 98.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after buying an additional 815,850 shares during the period. Clarius Group LLC raised its holdings in Enbridge by 25.2% during the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after buying an additional 1,617 shares during the last quarter. S.E.E.D. Planning Group LLC raised its holdings in Enbridge by 81.1% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after buying an additional 102,850 shares during the last quarter. Private Trust Co. NA raised its holdings in Enbridge by 5.7% during the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after buying an additional 473 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ENB shares. Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Up 1.3 %

Shares of NYSE:ENB traded up $0.42 during midday trading on Thursday, reaching $33.75. The company’s stock had a trading volume of 1,532,687 shares, compared to its average volume of 5,371,137. The firm has a 50 day moving average of $35.03 and a 200-day moving average of $34.65. The firm has a market capitalization of $71.75 billion, a P/E ratio of 15.87, a PEG ratio of 3.12 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. On average, research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge 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.