AMF Tjanstepension AB has sold 66.6% of its shares in Enbridge Inc. (ENB:NYE), according to the latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor sold 767,972 shares of Enbridge stock, leaving it with 385,700 shares, valued at $15,610,000, at the end of the fourth quarter.
Several other hedge funds have also made changes to their positions in Enbridge. Horizon Investments LLC increased its position in the company by 1.0% during the third quarter, while Bessemer Group Inc. increased its position by 0.5%.
Accurate Wealth Management LLC and Lantz Financial LLC also boosted their holdings in Enbridge, as did Checchi Capital Advisers LLC. Hedge funds and other institutional investors now own 49.25% of Enbridge stock.
Enbridge Stock-Analyst Ratings:
Analysts have set new price targets for Enbridge after several brokerages recently issued reports on the company.
BMO Capital Markets cut shares of Enbridge from an “outperform” rating to a “market perform” rating, while National Bank Financial raised its target price from C$54.00 to C$56.00.
Credit Suisse Group upgraded shares of Enbridge from an “underperform” rating to a “neutral” rating.
Enbridge Stock Price Analysis:
Enbridge stock traded up $0.09 on Wednesday, closing at $38.98, with 723,241 shares traded. The company has a 50-day simple moving average of $38.67 and a 200-day simple moving average of $39.18.
Its market capitalization is $78.93 billion, and it has a PE ratio of 38.51, a PEG ratio of 2.82, and a beta of 0.83. Enbridge Inc. has a 1-year low of $35.02 and a 1-year high of $47.67. The company’s debt-to-equity ratio is 1.29, its quick ratio is 0.49, and its current ratio is 0.60.
According to data from Stock Target Advisor Enbridge stock has a consensus rating of “Hold” and an average target price of $57.00.
Company 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 company was formerly known as IPL Energy Inc. and changed its name to Enbridge Inc. in October 1998. Enbridge Inc. was founded in 1949 and is headquartered in Calgary, Canada.
