Norges Bank Takes $909.42 Million Position in Enbridge Inc. (NYSE:ENB)

Norges Bank bought a new position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,454,238 shares of the pipeline company's stock, valued at approximately $909,415,000. Norges Bank owned approximately 0.98% of Enbridge as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ENB. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT bought a new position in Enbridge in the fourth quarter valued at about $29,000. Wintrust Investments LLC raised its stake in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock worth $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of Enbridge in the 4th quarter valued at approximately $42,000. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, CIBC restated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

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Enbridge Trading Down 0.5 %

ENB opened at $44.23 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The company's 50 day moving average price is $43.49 and its two-hundred day moving average price is $42.53. The firm has a market capitalization of $96.37 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for 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 previous year, the firm posted $0.64 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.