Federated Hermes Inc. Sells 50,910 Shares of Enbridge Inc. (NYSE:ENB)

Federated Hermes Inc. trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,643,482 shares of the pipeline company’s stock after selling 50,910 shares during the quarter. Federated Hermes Inc.’s holdings in Enbridge were worth $197,023,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Enbridge in the 4th quarter worth about $909,415,000. Arrowstreet Capital Limited Partnership lifted its holdings in Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Enbridge in the fourth quarter valued at about $180,941,000. Vanguard Group Inc. grew its stake in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Enbridge by 30.5% during the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock worth $571,389,000 after buying an additional 3,091,442 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 4.4 %

Shares of ENB opened at $43.34 on Friday. The business’s fifty day moving average price is $43.45 and its two-hundred day moving average price is $42.62. The firm has a market capitalization of $94.44 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

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

Analyst Upgrades and Downgrades

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

Enbridge 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 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.