FIL Ltd Buys 1,466,183 Shares of Enbridge Inc. (NYSE:ENB)

FIL Ltd increased its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,084,416 shares of the pipeline company's stock after acquiring an additional 1,466,183 shares during the quarter. FIL Ltd owned about 0.46% of Enbridge worth $428,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Enbridge by 4.1% in 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 in the last quarter. GQG Partners LLC lifted its stake in shares of Enbridge by 2.1% in 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 in the last quarter. TD Asset Management Inc. grew its holdings in shares of 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 last quarter. Norges Bank bought a new stake in shares of Enbridge during the fourth quarter valued at approximately $909,415,000. Finally, JPMorgan Chase & Co. raised its holdings in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock worth $655,556,000 after acquiring an additional 176,733 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Enbridge stock traded up $1.46 during mid-day trading on Friday, reaching $43.28. 4,538,261 shares of the stock traded hands, compared to its average volume of 4,447,010. The stock has a market capitalization of $94.31 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. 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 business's 50-day moving average is $43.14 and its 200-day moving average is $42.66. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $46.12.

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, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

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