Enbridge Inc. (NYSE:ENB) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,329 shares of the pipeline company’s stock after acquiring an additional 1,463 shares during the period. Parallel Advisors LLC’s holdings in Enbridge were worth $863,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Enbridge in the fourth quarter worth about $180,941,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. National Bank of Canada FI grew its stake in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Enbridge by 44.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company’s stock worth $156,098,000 after purchasing an additional 1,183,821 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ENB shares. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $43.73 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average of $43.45 and a two-hundred day moving average of $42.30. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78. The company has a market cap of $95.28 billion, a P/E ratio of 25.42, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 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 firm posted $0.64 earnings per share. As a group, analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Company 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.