Russell Investments Group Ltd. Has $154.59 Million Position in Enbridge Inc. (NYSE:ENB)

Russell Investments Group Ltd. lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,650,461 shares of the pipeline company’s stock after selling 99,127 shares during the quarter. Russell Investments Group Ltd. owned 0.17% of Enbridge worth $154,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BNP Paribas Financial Markets increased its position in shares of Enbridge by 734.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after purchasing an additional 47,063 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Enbridge by 13.5% during the 3rd quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company’s stock worth $310,000 after acquiring an additional 910 shares during the period. HighTower Advisors LLC increased its holdings in shares of Enbridge by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 520,422 shares of the pipeline company’s stock worth $21,115,000 after acquiring an additional 8,902 shares during the last quarter. Janus Henderson Group PLC boosted its position in Enbridge by 431.5% during the third quarter. Janus Henderson Group PLC now owns 1,057,996 shares of the pipeline company’s stock worth $42,966,000 after purchasing an additional 858,932 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of Enbridge by 7.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 59,331 shares of the pipeline company’s stock worth $2,409,000 after buying an additional 3,973 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Down 4.4 %

NYSE:ENB opened at $43.34 on Friday. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $46.12. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $94.44 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.92 and a beta of 0.95. The firm has a fifty day simple moving average of $43.45 and a two-hundred day simple moving average of $42.61.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada lifted 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. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Citigroup initiated coverage on Enbridge in a research report on Friday. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently 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.