Enbridge Inc. (NYSE:ENB) Stock Holdings Increased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 396.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,047,004 shares of the pipeline company’s stock after buying an additional 9,621,425 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Enbridge were worth $510,816,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. FMR LLC lifted its stake in shares of Enbridge by 9.4% in the 3rd quarter. FMR LLC now owns 4,932,822 shares of the pipeline company’s stock worth $200,384,000 after acquiring an additional 425,706 shares during the period. BNP Paribas Financial Markets lifted its position in Enbridge by 734.9% in the third quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after purchasing an additional 47,063 shares during the period. CreativeOne Wealth LLC boosted its stake in Enbridge by 36.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 7,996 shares of the pipeline company’s stock valued at $325,000 after purchasing an additional 2,152 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Enbridge by 2.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 245,409 shares of the pipeline company’s stock valued at $9,966,000 after purchasing an additional 4,929 shares during the period. Finally, Icon Wealth Advisors LLC raised its stake in shares of Enbridge by 5.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,650 shares of the pipeline company’s stock worth $554,000 after buying an additional 650 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Up 0.2 %

NYSE:ENB opened at $44.43 on Friday. The stock has a fifty day simple moving average of $43.49 and a 200 day simple moving average of $42.49. The firm has a market capitalization of $96.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth 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. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 period last year, the company posted $0.64 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge 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.