GQG Partners LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

GQG Partners LLC increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,290,740 shares of the pipeline company’s stock after acquiring an additional 1,495,742 shares during the quarter. Enbridge comprises about 4.7% of GQG Partners LLC’s holdings, making the stock its 5th biggest holding. GQG Partners LLC’s holdings in Enbridge were worth $3,151,500,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Enbridge in the fourth quarter worth approximately $180,941,000. Vanguard Group Inc. raised its stake in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. National Bank of Canada FI lifted its position in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Enbridge by 1,131.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,545,283 shares of the pipeline company’s stock worth $65,514,000 after buying an additional 1,419,766 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $44.25 on Tuesday. 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 stock has a market cap of $96.42 billion, a PE ratio of 25.72, a PEG ratio of 3.92 and a beta of 0.95. The company’s fifty day moving average is $43.48 and its 200 day moving average is $42.39. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78.

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

Analysts Set New Price Targets

ENB has been the subject of a number of research analyst reports. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report 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 company. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge 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.