Federated Hermes Inc. Trims Position in Enbridge Inc. (NYSE:ENB)

Federated Hermes Inc. reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,798,936 shares of the pipeline company’s stock after selling 545,558 shares during the quarter. Federated Hermes Inc. owned 0.23% of Enbridge worth $172,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. American Century Companies Inc. grew its position in Enbridge by 6.9% during the first quarter. American Century Companies Inc. now owns 49,136 shares of the pipeline company’s stock worth $2,262,000 after buying an additional 3,178 shares during the period. BlackRock Inc. grew its position in shares of Enbridge by 47.5% in the first quarter. BlackRock Inc. now owns 1,585,598 shares of the pipeline company’s stock valued at $73,081,000 after purchasing an additional 510,865 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Enbridge by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,647,982 shares of the pipeline company’s stock worth $75,955,000 after acquiring an additional 112,553 shares during the last quarter. Blair William & Co. IL grew its stake in Enbridge by 3.4% in the first quarter. Blair William & Co. IL now owns 149,644 shares of the pipeline company’s stock worth $6,897,000 after purchasing an additional 4,883 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Enbridge by 0.3% in the first quarter. Sei Investments Co. now owns 316,801 shares of the pipeline company’s stock worth $14,600,000 after purchasing an additional 968 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Stock Performance

NYSE ENB traded up $0.42 during trading on Thursday, reaching $33.75. The company’s stock had a trading volume of 1,532,687 shares, compared to its average volume of 5,371,137. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $71.75 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 3.12 and a beta of 0.84. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The firm has a 50 day moving average price of $35.03 and a 200 day moving average price of $34.65.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, equities analysts anticipate that Enbridge Inc. will post 2.12 EPS 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.