Envestnet Asset Management Inc. Boosts Stake in Enbridge Inc. (NYSE:ENB)

Envestnet Asset Management Inc. grew its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,788,300 shares of the pipeline company's stock after purchasing an additional 61,006 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Enbridge worth $160,735,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ENB. Vanguard Group Inc. boosted its stake in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. GQG Partners LLC boosted its stake in shares of Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after buying an additional 1,495,742 shares during the period. TD Asset Management Inc. increased its position in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares during the period. Norges Bank acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $909,415,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock worth $655,556,000 after purchasing an additional 176,733 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

ENB stock traded up $1.16 during trading on Friday, reaching $42.98. 1,747,858 shares of the company were exchanged, compared to its average volume of 4,435,853. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $46.12. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market cap of $93.66 billion, a P/E ratio of 24.98, a PEG ratio of 3.92 and a beta of 0.80. The stock's 50 day moving average price is $43.15 and its 200 day moving average price is $42.64.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.