GQG Partners LLC Increases Position in Enbridge Inc. (NYSE:ENB)

GQG Partners LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 74,290,740 shares of the pipeline company’s stock after purchasing an additional 1,495,742 shares during the period. Enbridge comprises approximately 4.7% of GQG Partners LLC’s portfolio, making the stock its 5th biggest position. GQG Partners LLC owned about 3.41% of Enbridge worth $3,151,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. apricus wealth LLC boosted its holdings in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after buying an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 230 shares in the last quarter. Wintrust Investments LLC increased its position in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its holdings in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on ENB shares. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Up 0.9 %

ENB stock opened at $44.25 on Tuesday. The stock has a fifty day moving average of $43.48 and a 200-day moving average of $42.39. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The company has a market capitalization of $96.42 billion, a price-to-earnings ratio of 25.72, a PEG 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.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the business earned $0.64 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.