Greenland Capital Management LP Grows Stock Position in Enbridge Inc. (NYSE:ENB)

Greenland Capital Management LP grew its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 189.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,410 shares of the pipeline company's stock after purchasing an additional 23,160 shares during the period. Greenland Capital Management LP's holdings in Enbridge were worth $1,502,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 buying an additional 3,611,421 shares during the last quarter. GQG Partners LLC raised its holdings 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 purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. lifted its position 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 purchasing an additional 1,040,799 shares during the period. Norges Bank acquired a new stake in Enbridge during the 4th quarter worth about $909,415,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Enbridge by 1.1% during the 3rd 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. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

NYSE:ENB traded up $1.46 during trading hours on Friday, hitting $43.28. 4,538,261 shares of the stock were exchanged, compared to its average volume of 4,447,010. The company has a market cap of $94.31 billion, a P/E ratio of 25.16, a P/E/G ratio of 3.92 and a beta of 0.80. The firm's fifty day moving average price is $43.14 and its 200 day moving average price is $42.66. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $46.12. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts' expectations 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 company earned $0.64 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ENB. Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently 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.