O Shaughnessy Asset Management LLC Acquires 46,867 Shares of Enbridge Inc. (NYSE:ENB)

O Shaughnessy Asset Management LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 527,496 shares of the pipeline company’s stock after purchasing an additional 46,867 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Enbridge were worth $22,368,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in Enbridge during the 4th quarter valued at approximately $909,415,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after acquiring an additional 9,621,425 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Enbridge during the fourth quarter valued at $180,941,000. Vanguard Group Inc. boosted its stake in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Enbridge by 12.8% during the 3rd 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 during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada boosted 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, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Up 0.2 %

ENB opened at $44.43 on Monday. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78. 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 firm has a 50 day moving average price of $43.49 and a 200-day moving average price of $42.50. The stock has a market capitalization of $96.82 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.64 EPS. Equities research analysts forecast 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.