abrdn plc Sells 30,600 Shares of Enbridge Inc. (NYSE:ENB)

abrdn plc decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,068,100 shares of the pipeline company’s stock after selling 30,600 shares during the period. abrdn plc’s holdings in Enbridge were worth $38,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Harbor Investment Advisory LLC grew its holdings in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 280 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 300 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after acquiring an additional 341 shares in the last quarter. Marino Stram & Associates LLC grew its stake in Enbridge by 1.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 344 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC grew its stake in Enbridge by 2.3% during the 3rd quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock valued at $518,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENB. Jefferies Financial Group began coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Stock Performance

NYSE:ENB opened at $35.35 on Tuesday. The stock has a market capitalization of $75.15 billion, a P/E ratio of 16.83, a PEG ratio of 3.26 and a beta of 0.84. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The company has a 50 day moving average price of $35.05 and a 200 day moving average price of $34.73.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Profile

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.