UniSuper Management Pty Ltd Sells 9,200 Shares of Enbridge Inc. (NYSE:ENB)

UniSuper Management Pty Ltd lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 41,700 shares of the pipeline company’s stock after selling 9,200 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Enbridge were worth $1,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in Enbridge in the 4th quarter valued at approximately $29,000. Wintrust Investments LLC raised its holdings in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. lifted its position in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of Enbridge in the fourth quarter worth $42,000. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $44.43 on Monday. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market cap of $96.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The stock has a 50-day moving average price of $43.49 and a 200-day moving average price of $42.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.