Russell Investments Group Ltd. Sells 99,127 Shares of Enbridge Inc. (NYSE:ENB)

Russell Investments Group Ltd. decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,650,461 shares of the pipeline company’s stock after selling 99,127 shares during the quarter. Russell Investments Group Ltd.’s holdings in Enbridge were worth $154,590,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ENB. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in Enbridge in the 4th quarter worth approximately $29,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in Enbridge in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Price Performance

Shares of NYSE ENB opened at $43.34 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a one year low of $32.86 and a one year high of $46.12. The firm has a market cap of $94.44 billion, a PE ratio of 25.20, a PEG ratio of 3.92 and a beta of 0.95. The firm has a fifty day moving average of $43.45 and a 200 day moving average of $42.61.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 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 analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the business posted $0.64 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

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.