Morgan Stanley Institutional Investment Advisors LLC Has $390.98 Million Stock Holdings in Enbridge Inc $ENB

Morgan Stanley Institutional Investment Advisors LLC reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,748,227 shares of the pipeline company’s stock after selling 193,088 shares during the quarter. Enbridge makes up approximately 47.0% of Morgan Stanley Institutional Investment Advisors LLC’s portfolio, making the stock its biggest position. Morgan Stanley Institutional Investment Advisors LLC owned 0.36% of Enbridge worth $390,976,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC bought a new stake in Enbridge during the fourth quarter worth about $261,000. AQR Capital Management LLC lifted its holdings in shares of Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares during the period. Acadian Asset Management LLC increased its position in Enbridge by 58.4% during the 2nd quarter. Acadian Asset Management LLC now owns 208,513 shares of the pipeline company’s stock worth $9,443,000 after purchasing an additional 76,842 shares in the last quarter. PFG Advisors acquired a new position in Enbridge during the 2nd quarter worth $238,000. Finally, ProShare Advisors LLC raised its holdings in Enbridge by 5.6% in the 2nd quarter. ProShare Advisors LLC now owns 230,854 shares of the pipeline company’s stock valued at $10,468,000 after buying an additional 12,143 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ENB shares. Royal Bank Of Canada raised their price objective on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Performance

NYSE ENB opened at $53.64 on Friday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $54.42. The company has a market capitalization of $117.03 billion, a P/E ratio of 23.32 and a beta of 0.67. The company has a fifty day moving average of $50.09 and a 200-day moving average of $48.76. 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 (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The company had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Company Profile

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.