Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Enbridge Inc. (NYSE:ENB)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 807,385 shares of the pipeline company’s stock after acquiring an additional 117,092 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Enbridge were worth $29,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Moneta Group Investment Advisors LLC grew its holdings in Enbridge by 109,143.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after purchasing an additional 48,423,715 shares during the period. Wellington Management Group LLP grew its holdings in Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the period. Norges Bank purchased a new stake in Enbridge in the fourth quarter worth about $723,255,000. Vanguard Group Inc. grew its holdings in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Enbridge by 36.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after buying an additional 2,814,200 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 2.3 %

Shares of Enbridge stock opened at $32.97 on Wednesday. The company has a market cap of $70.09 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84. The company’s 50 day moving average is $35.05 and its 200 day moving average is $34.66. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. Research analysts anticipate that Enbridge Inc. will post 2.13 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average target price of $55.20.

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.