GW&K Investment Management LLC Trims Stake in Enbridge Inc $ENB

GW&K Investment Management LLC cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,022,255 shares of the pipeline company’s stock after selling 10,050 shares during the quarter. GW&K Investment Management LLC’s holdings in Enbridge were worth $51,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENB. Brighton Jones LLC acquired a new stake in shares of Enbridge during the fourth quarter valued at about $261,000. AQR Capital Management LLC increased its holdings in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after purchasing an additional 11,599 shares during the last quarter. Westside Investment Management Inc. increased its holdings in Enbridge by 30.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,107 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 259 shares during the last quarter. Bank of New York Mellon Corp raised its position in Enbridge by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 5,540,549 shares of the pipeline company’s stock valued at $251,098,000 after purchasing an additional 333,030 shares during the period. Finally, Huntington National Bank lifted its stake in Enbridge by 0.9% during the second quarter. Huntington National Bank now owns 31,205 shares of the pipeline company’s stock worth $1,414,000 after purchasing an additional 273 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $54.15 on Thursday. The business has a 50-day simple moving average of $49.36 and a 200-day simple moving average of $48.50. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63. Enbridge Inc has a one year low of $39.73 and a one year high of $54.42. The company has a market cap of $118.14 billion, a PE ratio of 23.54 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ENB shares. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. National Bank Financial reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Finally, Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. 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.

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.