Duff & Phelps Investment Management Co. Increases Holdings in Enbridge Inc. (NYSE:ENB)

Duff & Phelps Investment Management Co. boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,439,951 shares of the pipeline company’s stock after purchasing an additional 137,819 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Enbridge were worth $61,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the period. GQG Partners LLC lifted its position in Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after purchasing an additional 1,040,799 shares during the last quarter. Norges Bank bought a new stake in Enbridge during the 4th quarter valued at $909,415,000. Finally, National Bank of Canada FI boosted its position in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after buying an additional 2,061,758 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ENB shares. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $44.38 on Friday. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78. 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 $96.72 billion, a P/E ratio of 25.80, a P/E/G ratio of 3.92 and a beta of 0.95. The business’s 50 day moving average price is $43.49 and its 200-day moving average price is $42.45.

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

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.