Norges Bank Acquires New Shares in Enbridge Inc. (NYSE:ENB)

Norges Bank bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,454,238 shares of the pipeline company’s stock, valued at approximately $909,415,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Metis Global Partners LLC raised its holdings in shares of Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after purchasing an additional 7,986 shares during the last quarter. Aviso Financial Inc. raised its stake in Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after buying an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after buying an additional 319,907 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Enbridge by 4.1% during 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 acquiring an additional 3,611,421 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.3 %

Shares of NYSE:ENB opened at $44.38 on Friday. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78. The company has a market cap of $96.72 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The stock has a 50 day moving average of $43.49 and a 200 day moving average of $42.45. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm earned $0.64 EPS. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ENB. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company 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.