Candriam S.C.A. Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Candriam S.C.A. boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,379 shares of the pipeline company’s stock after buying an additional 2,903 shares during the quarter. Candriam S.C.A.’s holdings in Enbridge were worth $652,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ethos Financial Group LLC purchased a new stake in shares of Enbridge during the 4th quarter valued at about $254,000. Raymond James Financial Inc. purchased a new stake in shares of Enbridge during the 4th quarter valued at about $180,941,000. Vision Financial Markets LLC purchased a new stake in shares of Enbridge during the 4th quarter valued at about $47,000. Verdence Capital Advisors LLC increased its position in shares of Enbridge by 0.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 43,942 shares of the pipeline company’s stock valued at $1,864,000 after purchasing an additional 282 shares during the last quarter. Finally, Atria Investments Inc increased its position in shares of Enbridge by 0.6% during the 4th quarter. Atria Investments Inc now owns 82,667 shares of the pipeline company’s stock valued at $3,508,000 after purchasing an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.6 %

Shares of NYSE:ENB opened at $42.69 on Tuesday. The stock has a 50 day moving average of $43.46 and a 200 day moving average of $42.15. The company has a market cap of $93.01 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.