QV Investors Inc. Has $52.45 Million Stock Holdings in Enbridge Inc $ENB

QV Investors Inc. lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,094,686 shares of the pipeline company’s stock after selling 84,835 shares during the quarter. Enbridge accounts for approximately 4.3% of QV Investors Inc.’s holdings, making the stock its 6th biggest position. QV Investors Inc.’s holdings in Enbridge were worth $52,452,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ENB. Tsfg LLC grew its position in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares during the last quarter. Triumph Capital Management purchased a new position in Enbridge in the third quarter worth about $26,000. Highline Wealth Partners LLC lifted its stake in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge in the third quarter worth approximately $28,000. Finally, True Wealth Design LLC grew its holdings in shares of Enbridge by 588.2% during the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ENB shares. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $54.16 on Friday. The firm’s 50-day moving average price is $52.46 and its 200-day moving average price is $49.41. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $55.44. The company has a market cap of $118.20 billion, a PE ratio of 23.55 and a beta of 0.63. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70.

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