Enbridge Inc. (NYSE:ENB) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 217,115 shares of the pipeline company’s stock after purchasing an additional 26,301 shares during the quarter. Cerity Partners LLC’s holdings in Enbridge were worth $9,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unigestion Holding SA purchased a new position in shares of Enbridge in the fourth quarter worth about $10,699,000. Ted Buchan & Co raised its holdings in Enbridge by 8.5% in the 4th quarter. Ted Buchan & Co now owns 52,962 shares of the pipeline company’s stock valued at $2,247,000 after acquiring an additional 4,163 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Enbridge by 1.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 3,788,300 shares of the pipeline company’s stock worth $160,735,000 after purchasing an additional 61,006 shares in the last quarter. Cullen Capital Management LLC boosted its holdings in shares of Enbridge by 6.5% during the 4th quarter. Cullen Capital Management LLC now owns 7,860 shares of the pipeline company’s stock worth $334,000 after purchasing an additional 480 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Enbridge by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 4,399,582 shares of the pipeline company’s stock valued at $186,674,000 after purchasing an additional 38,868 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $41.80 on Friday. The firm has a market cap of $91.10 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12. The business’s fifty day simple moving average is $43.15 and its 200-day simple moving average is $42.64.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. CIBC reissued an “outperform” rating on shares of Enbridge in a research report 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, Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.