Corient Private Wealth LLC Increases Stock Position in Enbridge Inc. (NYSE:ENB)

Corient Private Wealth LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 245,819 shares of the pipeline company’s stock after buying an additional 25,289 shares during the quarter. Corient Private Wealth LLC’s holdings in Enbridge were worth $10,430,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Ninepoint Partners LP grew its stake in shares of Enbridge by 3.6% during the 4th quarter. Ninepoint Partners LP now owns 107,342 shares of the pipeline company’s stock valued at $4,555,000 after buying an additional 3,750 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Enbridge by 0.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 156,607 shares of the pipeline company’s stock valued at $6,645,000 after buying an additional 999 shares during the period. one8zero8 LLC purchased a new stake in shares of Enbridge during the 4th quarter valued at $1,552,000. Natixis Advisors LLC grew its stake in shares of Enbridge by 34.9% during the 4th quarter. Natixis Advisors LLC now owns 260,385 shares of the pipeline company’s stock valued at $11,048,000 after buying an additional 67,343 shares during the period. Finally, Aviso Financial Inc. grew its stake in shares of Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after buying an additional 58,176 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

NYSE:ENB opened at $43.73 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a 50-day moving average of $43.45 and a two-hundred day moving average of $42.30. The stock has a market cap of $95.28 billion, a P/E ratio of 25.42, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $45.78.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. 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 three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.