Franklin Resources Inc. Has $53.40 Million Stake in Enbridge Inc. (NYSE:ENB)

Franklin Resources Inc. reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,259,598 shares of the pipeline company’s stock after selling 12,912 shares during the quarter. Franklin Resources Inc.’s holdings in Enbridge were worth $53,401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. apricus wealth LLC increased its position in shares of Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after buying an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 230 shares in the last quarter. Wintrust Investments LLC boosted its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its position in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Enbridge stock opened at $43.34 on Friday. The stock has a market cap of $94.44 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $46.12. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $43.45 and its 200 day simple moving average is $42.61.

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

Analyst Ratings Changes

ENB has been the topic of a number of recent analyst reports. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Citigroup started coverage on shares of Enbridge in a research note on Friday. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.