Tortoise Capital Advisors L.L.C. Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

Tortoise Capital Advisors L.L.C. grew its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,222,673 shares of the pipeline company's stock after purchasing an additional 431,033 shares during the period. Enbridge makes up about 3.4% of Tortoise Capital Advisors L.L.C.'s holdings, making the stock its 12th largest holding. Tortoise Capital Advisors L.L.C. owned about 0.29% of Enbridge worth $264,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC grew its position in shares of Enbridge by 74.9% during the third 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 purchased a new stake in Enbridge during the 4th quarter worth about $29,000. Wintrust Investments LLC increased its stake in Enbridge by 47.8% in 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 last quarter. GeoWealth Management LLC raised its holdings in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. grew its position in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after buying an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Performance

ENB traded up $0.59 during trading on Thursday, reaching $46.20. The company's stock had a trading volume of 1,924,379 shares, compared to its average volume of 4,288,231. The company has a market capitalization of $100.67 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company's fifty day moving average price is $43.20 and its 200-day moving average price is $42.87. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $46.40. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm 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 last year, the business earned $0.64 earnings per share. On average, equities analysts forecast 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.