RNC Capital Management LLC Has $47.85 Million Position in Enbridge Inc. (NYSE:ENB)

RNC Capital Management LLC raised its position in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 30.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223,827 shares of the pipeline company’s stock after purchasing an additional 287,433 shares during the period. Enbridge accounts for about 2.7% of RNC Capital Management LLC’s investment portfolio, making the stock its 15th largest position. RNC Capital Management LLC owned approximately 0.06% of Enbridge worth $47,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC bought a new stake in shares of Enbridge during the 3rd quarter worth $60,000. Advisors Asset Management Inc. grew its position in shares of Enbridge by 9.7% in the third quarter. Advisors Asset Management Inc. now owns 114,371 shares of the pipeline company’s stock valued at $4,243,000 after purchasing an additional 10,123 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Enbridge by 2.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 142,269 shares of the pipeline company’s stock worth $5,563,000 after purchasing an additional 2,994 shares during the period. Kovack Advisors Inc. acquired a new position in shares of Enbridge during the 3rd quarter worth about $832,000. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Enbridge by 62.8% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 25,382 shares of the pipeline company’s stock worth $940,000 after purchasing an additional 9,793 shares during the last quarter. Institutional investors own 49.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Enbridge in a research note on Thursday. They issued a “hold” rating on the stock. BMO Capital Markets cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 24th. National Bank Financial upped their target price on shares of Enbridge from C$54.00 to C$56.00 in a research note on Friday, January 27th. Finally, Credit Suisse Group cut shares of Enbridge from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.00.

Enbridge Trading Down 1.2 %

Shares of ENB stock opened at $36.56 on Friday. Enbridge Inc. has a 52-week low of $35.02 and a 52-week high of $47.67. The stock has a market cap of $74.03 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 2.81 and a beta of 0.83. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.49 and a current ratio of 0.60. The firm has a fifty day moving average of $39.64 and a 200-day moving average of $39.56.

Enbridge Profile

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Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.