State of Tennessee Department of Treasury Boosts Holdings in Enbridge Inc. (NYSE:ENB)

State of Tennessee Department of Treasury grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,252,304 shares of the pipeline company’s stock after purchasing an additional 6,944 shares during the period. State of Tennessee Department of Treasury owned approximately 0.06% of Enbridge worth $53,124,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC raised its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT bought a new stake in shares of Enbridge during the fourth quarter worth $29,000. Wintrust Investments LLC boosted its position in Enbridge by 47.8% in 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. GeoWealth Management LLC grew its stake in Enbridge by 436.4% in 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. increased its stake in shares of Enbridge by 149.9% during the fourth 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 period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.7 %

Shares of NYSE ENB opened at $45.32 on Monday. The company has a market capitalization of $98.76 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $46.12. The company has a 50 day simple moving average of $43.15 and a 200-day simple moving average of $42.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the company earned $0.64 EPS. On average, equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENB. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.