Wells Fargo & Company MN Has $186.67 Million Holdings in Enbridge Inc. (NYSE:ENB)

Wells Fargo & Company MN lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,399,582 shares of the pipeline company’s stock after purchasing an additional 38,868 shares during the quarter. Wells Fargo & Company MN owned 0.20% of Enbridge worth $186,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT acquired a new position in shares of Enbridge in the 4th quarter worth approximately $29,000. Wintrust Investments LLC boosted its stake 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 in the last quarter. Dixon Mitchell Investment Counsel Inc. grew its position in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in shares of Enbridge during the fourth quarter valued at $42,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 4.4 %

NYSE:ENB opened at $43.34 on Friday. The company has a market cap of $94.44 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock’s fifty day moving average price is $43.45 and its two-hundred day moving average price is $42.62. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $46.12.

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 the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted 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. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Citigroup assumed coverage on Enbridge in a report on Friday. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge 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.