Wells Fargo & Company MN Buys 38,868 Shares of Enbridge Inc. (NYSE:ENB)

Wells Fargo & Company MN raised its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,399,582 shares of the pipeline company's stock after acquiring an additional 38,868 shares during the period. Wells Fargo & Company MN owned approximately 0.20% of Enbridge worth $186,674,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ENB. Metis Global Partners LLC raised its holdings in shares of Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after acquiring an additional 7,986 shares during the last quarter. Aviso Financial Inc. raised its stake in shares of Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock worth $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock valued at $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock valued at $52,880,000 after buying an additional 319,907 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Royal Bank of Canada raised their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Stock Performance

NYSE ENB traded up $0.63 during trading hours on Wednesday, reaching $41.72. 6,113,474 shares of the company were exchanged, compared to its average volume of 4,450,436. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $90.91 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $46.12. The business's 50 day simple moving average is $43.17 and its 200-day simple moving average is $42.64.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data 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. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the company earned $0.64 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current 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.