Enbridge Inc. (NYSE:ENB) Holdings Boosted by Evergreen Capital Management LLC

Evergreen Capital Management LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,304 shares of the pipeline company’s stock after purchasing an additional 4,239 shares during the quarter. Evergreen Capital Management LLC’s holdings in Enbridge were worth $5,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in Enbridge in the fourth quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership boosted its stake in Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Raymond James Financial Inc. bought a new position in Enbridge in the 4th quarter worth about $180,941,000. Vanguard Group Inc. increased its stake in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Enbridge by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock valued at $571,389,000 after purchasing an additional 3,091,442 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Trading Up 0.7 %

Shares of Enbridge stock opened at $44.61 on Thursday. The business has a fifty day simple moving average of $43.14 and a 200-day simple moving average of $42.72. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $46.12. The firm has a market cap of $97.21 billion, a price-to-earnings ratio of 25.94, 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 (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.64 EPS. On average, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal 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.