Envestnet Portfolio Solutions Inc. Has $6.65 Million Stake in Enbridge Inc. (NYSE:ENB)

Envestnet Portfolio Solutions Inc. lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,607 shares of the pipeline company’s stock after purchasing an additional 999 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Enbridge were worth $6,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. one8zero8 LLC bought a new stake in shares of Enbridge during the fourth quarter worth about $1,552,000. Natixis Advisors LLC grew its holdings in shares of Enbridge by 34.9% during the fourth quarter. Natixis Advisors LLC now owns 260,385 shares of the pipeline company’s stock worth $11,048,000 after purchasing an additional 67,343 shares during the last quarter. Aviso Financial Inc. grew its holdings in shares of Enbridge by 4.3% during the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Wintrust Investments LLC grew its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Enbridge by 3.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 430,464 shares of the pipeline company’s stock worth $18,265,000 after purchasing an additional 15,355 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of ENB opened at $43.47 on Tuesday. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The business’s 50 day moving average price is $43.46 and its two-hundred day moving average price is $42.26. The firm has a market cap of $94.73 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on ENB. Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target 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.