Fayez Sarofim & Co Takes $840,000 Position in Enbridge Inc. (NYSE:ENB)

Fayez Sarofim & Co bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,807 shares of the pipeline company's stock, valued at approximately $840,000.

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

Enbridge Trading Down 0.1 %

Shares of ENB traded down $0.06 during midday trading on Wednesday, reaching $45.58. The company had a trading volume of 4,194,160 shares, compared to its average volume of 4,297,260. The firm has a 50 day simple moving average of $43.20 and a 200-day simple moving average of $42.87. The stock has a market cap of $99.33 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. 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 Inc. has a 1-year low of $34.60 and a 1-year high of $46.12.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results 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. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same period last year, the business earned $0.64 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ENB shares. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada raised their price target 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 four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

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.