ExodusPoint Capital Management LP Acquires New Shares in Enbridge Inc. (NYSE:ENB)

ExodusPoint Capital Management LP bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, Holdings Channel.com reports. The firm bought 130,800 shares of the pipeline company’s stock, valued at approximately $5,550,000.

Several other institutional investors also recently bought and sold shares of ENB. Vanguard Group Inc. increased its holdings in shares of Enbridge by 4.1% during the 4th 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. GQG Partners LLC grew its holdings in Enbridge by 2.1% during 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 Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the last quarter. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter worth $909,415,000. Finally, National Bank of Canada FI boosted its holdings in shares of 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 worth $737,754,000 after buying an additional 2,061,758 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $43.34 on Friday. The company has a market capitalization of $94.44 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.92 and a beta of 0.95. 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 Inc. has a 12 month low of $32.86 and a 12 month high of $46.12. The stock has a 50 day moving average of $43.45 and a two-hundred day moving average of $42.62.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup initiated coverage on shares of Enbridge in a research report on Friday. They set a “buy” rating for the company. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price 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.