Russell Investments Group Ltd. Sells 99,127 Shares of Enbridge Inc. (NYSE:ENB)

Russell Investments Group Ltd. reduced its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,650,461 shares of the pipeline company's stock after selling 99,127 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Enbridge worth $154,590,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ENB. BNP Paribas Financial Markets boosted its position in shares of Enbridge by 734.9% in the third quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company's stock valued at $2,171,000 after acquiring an additional 47,063 shares during the period. Verition Fund Management LLC grew its position in Enbridge by 13.5% in the 3rd quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company's stock worth $310,000 after purchasing an additional 910 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Enbridge by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 520,422 shares of the pipeline company's stock worth $21,115,000 after purchasing an additional 8,902 shares during the period. Janus Henderson Group PLC raised its position in shares of Enbridge by 431.5% during the third quarter. Janus Henderson Group PLC now owns 1,057,996 shares of the pipeline company's stock valued at $42,966,000 after buying an additional 858,932 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of Enbridge by 7.2% in the third quarter. Integrated Wealth Concepts LLC now owns 59,331 shares of the pipeline company's stock valued at $2,409,000 after buying an additional 3,973 shares during the period. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

ENB stock traded down $0.96 during trading on Wednesday, hitting $40.13. 2,061,860 shares of the stock traded hands, compared to its average volume of 4,430,495. The stock has a market cap of $87.45 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $43.26 and a 200 day simple moving average of $42.64. Enbridge Inc. has a one year low of $32.86 and a one year 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 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

About Enbridge

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.