Macquarie Group Ltd. cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 77.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,802 shares of the pipeline company’s stock after selling 267,549 shares during the period. Macquarie Group Ltd.’s holdings in Enbridge were worth $3,121,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Enbridge by 8.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,259,897 shares of the pipeline company’s stock valued at $1,965,665,000 after purchasing an additional 3,768,790 shares during the period. Capital International Investors boosted its holdings in Enbridge by 7.8% in the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock valued at $1,721,048,000 after purchasing an additional 2,984,467 shares during the period. Mackenzie Financial Corp boosted its holdings in Enbridge by 791.4% in the 4th quarter. Mackenzie Financial Corp now owns 36,258,925 shares of the pipeline company’s stock valued at $1,418,087,000 after purchasing an additional 32,191,347 shares during the period. CIBC Asset Management Inc boosted its holdings in Enbridge by 11.5% in the 4th quarter. CIBC Asset Management Inc now owns 21,964,753 shares of the pipeline company’s stock valued at $862,620,000 after purchasing an additional 2,260,733 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Enbridge by 122.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 18,522,957 shares of the pipeline company’s stock valued at $724,433,000 after purchasing an additional 10,214,307 shares during the period. 63.22% of the stock is owned by institutional investors.
Shares of NYSE:ENB opened at $31.47 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. Enbridge Inc has a one year low of $29.54 and a one year high of $42.92. The firm has a market capitalization of $53,347.63, a price-to-earnings ratio of 19.67, a PEG ratio of 2.00 and a beta of 0.63.
ENB has been the subject of several analyst reports. Bank of America initiated coverage on shares of Enbridge in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Morgan Stanley cut their price target on shares of Enbridge from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Zacks Investment Research raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, Mizuho initiated coverage on shares of Enbridge in a report on Thursday. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.67.
In related news, insider Robert R. Rooney acquired 6,100 shares of the stock in a transaction dated Thursday, March 15th. The shares were purchased at an average price of $40.80 per share, for a total transaction of $248,880.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael E. J. Phelps sold 18,054 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $34.00, for a total transaction of $613,836.00. Following the sale, the director now owns 56,245 shares in the company, valued at approximately $1,912,330. The disclosure for this sale can be found here.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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