ExodusPoint Capital Management LP Purchases Shares of 130,800 Enbridge Inc. (NYSE:ENB)

ExodusPoint Capital Management LP acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 130,800 shares of the pipeline company’s stock, valued at approximately $5,550,000.

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

Analyst Ratings Changes

Several research analysts have commented on ENB shares. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Citigroup assumed coverage on shares of Enbridge in a research report on Friday. They set a “buy” rating on the stock. Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $43.34 on Friday. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12. 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 company has a market capitalization of $94.44 billion, a PE ratio of 25.20, a PEG ratio of 3.92 and a beta of 0.95. The company’s 50 day moving average price is $43.45 and its 200 day moving average price is $42.62.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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 business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the business posted $0.64 earnings per share. Research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

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.