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

Neuberger Berman Group LLC trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,376,314 shares of the pipeline company’s stock after selling 13,989 shares during the period. Neuberger Berman Group LLC’s holdings in Enbridge were worth $69,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. IHT Wealth Management LLC increased its stake in shares of Enbridge by 1.2% in the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the period. HBK Sorce Advisory LLC boosted its stake in Enbridge by 1.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 215 shares during the period. Copperleaf Capital LLC boosted its stake in Enbridge by 3.6% during the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 217 shares during the period. South Plains Financial Inc. grew its holdings in Enbridge by 13.2% in the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after buying an additional 220 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Enbridge by 2.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after buying an additional 221 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENB shares. Royal Bank Of Canada upped their price target on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Price Performance

Shares of ENB stock opened at $54.08 on Friday. The stock’s fifty day simple moving average is $49.62 and its 200 day simple moving average is $48.59. Enbridge Inc has a one year low of $39.73 and a one year high of $54.42. The firm has a market cap of $117.99 billion, a price-to-earnings ratio of 23.51 and a beta of 0.67. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates 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 company posted $0.75 earnings per share. On average, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

About Enbridge

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.