Orion Portfolio Solutions LLC Acquires 3,754 Shares of Enbridge Inc. (NYSE:ENB)

Orion Portfolio Solutions LLC raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.1% in the 4th quarter, HoldingsChannel reports. The fund owned 50,021 shares of the pipeline company’s stock after buying an additional 3,754 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Enbridge were worth $2,122,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $909,415,000. Raymond James Financial Inc. bought a new stake in shares of Enbridge during the fourth quarter worth $180,941,000. Vanguard Group Inc. lifted its stake in shares of 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 period. National Bank of Canada FI boosted its holdings in Enbridge by 12.8% in 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 acquiring an additional 2,061,758 shares during the last quarter. Finally, GQG Partners LLC increased 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 worth $3,151,500,000 after purchasing an additional 1,495,742 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $44.58 on Wednesday. The firm’s 50 day simple moving average is $43.47 and its 200 day simple moving average is $42.56. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The company has a market capitalization of $97.15 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the business posted $0.64 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada upped their target price 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Company 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.