one8zero8 LLC Acquires New Holdings in Enbridge Inc. (NYSE:ENB)

one8zero8 LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 36,575 shares of the pipeline company’s stock, valued at approximately $1,552,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its position in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Geode Capital Management LLC raised its stake in Enbridge by 10.8% in the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after buying an additional 985,546 shares during the last quarter. Finally, Amundi raised its stake in Enbridge by 4.2% in the fourth quarter. Amundi now owns 9,639,604 shares of the pipeline company’s stock valued at $424,335,000 after buying an additional 389,419 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.7 %

Shares of NYSE:ENB opened at $42.86 on Friday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The stock has a market cap of $93.38 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 3.92 and a beta of 0.95. 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 business has a 50-day moving average price of $43.45 and a 200-day moving average price of $42.21.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business earned $0.64 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENB. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada increased their price target 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 reiterated 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.