Russell Investments Group Ltd. Acquires 109,620 Shares of Enbridge Inc $ENB

Russell Investments Group Ltd. lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,163,533 shares of the pipeline company’s stock after buying an additional 109,620 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of Enbridge worth $159,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Enbridge in the second quarter valued at approximately $1,113,368,000. Canada Pension Plan Investment Board raised its position in shares of Enbridge by 38.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock valued at $599,556,000 after acquiring an additional 3,687,334 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after purchasing an additional 3,217,961 shares during the period. Geode Capital Management LLC lifted its stake in shares of Enbridge by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after purchasing an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Enbridge in the 2nd quarter worth $132,105,000. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

ENB opened at $54.08 on Monday. The stock has a market cap of $117.99 billion, a P/E ratio of 23.51 and a beta of 0.67. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $54.42. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The company has a fifty day simple moving average of $49.62 and a 200 day simple moving average of $48.60.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the company posted $0.75 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent analyst reports. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.