Arrowstreet Capital Limited Partnership Raises Position in Enbridge Inc. (NYSE:ENB)

Arrowstreet Capital Limited Partnership lifted its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 396.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,047,004 shares of the pipeline company's stock after acquiring an additional 9,621,425 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.55% of Enbridge worth $510,816,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ENB. Maridea Wealth Management LLC purchased a new position in Enbridge during the 4th quarter valued at $678,000. Orion Portfolio Solutions LLC boosted its stake in shares of Enbridge by 8.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 50,021 shares of the pipeline company's stock valued at $2,122,000 after purchasing an additional 3,754 shares during the period. Premier Fund Managers Ltd boosted its stake in shares of Enbridge by 85.9% during the fourth quarter. Premier Fund Managers Ltd now owns 278,800 shares of the pipeline company's stock valued at $11,724,000 after purchasing an additional 128,800 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Enbridge by 10.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,439,951 shares of the pipeline company's stock worth $61,097,000 after buying an additional 137,819 shares during the period. Finally, Norges Bank bought a new stake in Enbridge during the 4th quarter valued at about $909,415,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Enbridge Stock Up 0.7 %

ENB stock traded up $0.31 during trading on Wednesday, hitting $44.88. 649,018 shares of the company's stock traded hands, compared to its average volume of 3,912,632. The business has a fifty day simple moving average of $43.47 and a two-hundred day simple moving average of $42.56. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $97.79 billion, a P/E ratio of 26.09, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly 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 return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company posted $0.64 EPS. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Royal Bank of Canada increased their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and a consensus target price 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.