Envestnet Portfolio Solutions Inc. Has $6.65 Million Stake in Enbridge Inc. (NYSE:ENB)

Envestnet Portfolio Solutions Inc. lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 156,607 shares of the pipeline company’s stock after purchasing an additional 999 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Enbridge were worth $6,645,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Metis Global Partners LLC raised its position in shares of Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after purchasing an additional 7,986 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the last quarter. Aviso Financial Inc. raised its position in Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after buying an additional 58,176 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Enbridge by 32.6% in the 3rd 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, Sound Income Strategies LLC raised its position in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after buying an additional 49,800 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 1.5 %

Shares of NYSE:ENB opened at $43.47 on Tuesday. The company has a market capitalization of $94.73 billion, a PE ratio of 25.28, a price-to-earnings-growth 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. The business has a fifty day moving average price of $43.46 and a two-hundred day moving average price of $42.26. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the company earned $0.64 EPS. Analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENB. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.