QRG Capital Management Inc. Invests $319,000 in Enbridge Inc. (NYSE:ENB)

QRG Capital Management Inc. bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,528 shares of the pipeline company's stock, valued at approximately $319,000.

Several other hedge funds also recently made changes to their positions in the company. Versor Investments LP lifted its stake in shares of Enbridge by 96.8% in the fourth quarter. Versor Investments LP now owns 18,102 shares of the pipeline company's stock valued at $768,000 after purchasing an additional 8,902 shares during the period. First Command Advisory Services Inc. grew its holdings in Enbridge by 4,864.0% in the fourth quarter. First Command Advisory Services Inc. now owns 1,241 shares of the pipeline company's stock valued at $53,000 after purchasing an additional 1,216 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Enbridge by 0.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 386,264 shares of the pipeline company's stock valued at $16,389,000 after purchasing an additional 2,429 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Enbridge by 1.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 451,699 shares of the pipeline company's stock valued at $19,166,000 after purchasing an additional 4,881 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Enbridge by 5.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 379,400 shares of the pipeline company's stock valued at $16,095,000 after purchasing an additional 19,200 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

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Enbridge Trading Up 1.0 %

ENB stock traded up $0.40 during midday trading on Friday, reaching $42.00. 3,144,296 shares of the company's stock traded hands, compared to its average volume of 4,411,846. The company has a market capitalization of $91.51 billion, a P/E ratio of 24.42, a PEG ratio of 3.92 and a beta of 0.95. 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 $32.85 and a fifty-two week high of $45.78. The business has a 50-day moving average price of $43.45 and a two-hundred day moving average price of $42.10.

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 firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ENB shares. Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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.