Clearbridge Investments Reduces $388M in Enbridge Inc. ($ENB)
Key Points
- Clearbridge Investments changed its Enbridge Inc. ($ENB) stake by 44.5% last quarter, cutting to 8,570,330 shares worth $483.88 million.
- Wall Street's consensus rating on $ENB is Buy and an average price target of $51.99.
- $ENB last traded around $56.46.
Clearbridge Investments reduced its position in Enbridge Inc. ($ENB) by 44.5% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,570,330 shares of Enbridge Inc. after selling 6,879,985 shares during the quarter. Clearbridge Investments's holdings in Enbridge Inc. were worth $483.88 million as of its most recent filing.
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About Enbridge Inc.
Enbridge Inc., together with its subsidiaries, operates as an energy infrastructure company. The company operates through four segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation. The Liquids Pipelines segment operates pipelines and related terminals to transport, store, and export various grades of crude oil and other liquid hydrocarbons in Canada and the United States. This segment also provides physical commodity marketing and logistical services, and crude oil marketing services. The Gas Transmission segment invests in natural gas pipelines and gathering and processing facilities in Canada and the United States. The Gas Distribution and Storage segment is involved in natural gas utility operations serving residential, commercial, and industrial customers in Ontario, as well as natural gas distribution activities in Quebec. The Renewable Power Generation segment operates wind, solar, geothermal, waste heat recovery, and transmission assets in North America. 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.
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