Enbridge Inc. (NYSE:ENB) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 396.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,047,004 shares of the pipeline company’s stock after buying an additional 9,621,425 shares during the period. Arrowstreet Capital Limited Partnership owned 0.55% of Enbridge worth $510,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC boosted its position in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new position in shares of Enbridge in the 4th quarter valued at $29,000. Wintrust Investments LLC grew its stake in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Enbridge in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada lifted 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

Shares of ENB stock opened at $44.43 on Friday. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78. The company has a market capitalization of $96.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 firm has a fifty day simple moving average of $43.49 and a 200-day simple moving average of $42.49.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the business posted $0.64 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share 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.