Pictet Asset Management Holding SA Decreases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Pictet Asset Management Holding SA reduced its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 967,733 shares of the pipeline company's stock after selling 10,839 shares during the period. Pictet Asset Management Holding SA's holdings in Enbridge were worth $41,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC boosted its stake 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 acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in Enbridge during the fourth quarter valued at $29,000. Wintrust Investments LLC grew its holdings in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its position in 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 buying an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Enbridge during the 4th quarter valued at about $42,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. TD Securities began coverage on shares of 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

Shares of Enbridge stock traded up $0.76 on Thursday, hitting $45.90. 1,930,036 shares of the company traded hands, compared to its average volume of 4,381,498. 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 business has a 50-day simple moving average of $43.48 and a 200 day simple moving average of $42.57. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.10. The stock has a market capitalization of $100.02 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The business 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 company earned $0.64 EPS. Research analysts expect 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.