First Citizens Bank & Trust Co. Raises Position in Enbridge Inc. (NYSE:ENB)

First Citizens Bank & Trust Co. increased its holdings in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 67.2% during the 4th quarter, HoldingsChannel reports. The fund owned 11,799 shares of the pipeline company’s stock after acquiring an additional 4,742 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Enbridge were worth $425,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Enbridge by 98.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after acquiring an additional 815,850 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Monashee Investment Management LLC acquired a new position in shares of Enbridge in the third quarter worth about $4,252,000. CIBC Asset Management Inc lifted its stake in shares of Enbridge by 3.6% in the second quarter. CIBC Asset Management Inc now owns 18,616,583 shares of the pipeline company’s stock worth $692,463,000 after acquiring an additional 652,769 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Enbridge by 6.1% in the third quarter. National Bank of Canada FI now owns 18,189,412 shares of the pipeline company’s stock worth $581,882,000 after acquiring an additional 1,041,308 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ENB shares. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $55.20.

Read Our Latest Stock Analysis on ENB

Enbridge Trading Up 0.1 %

Shares of NYSE ENB opened at $35.86 on Wednesday. The company has a market cap of $76.22 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 3.39 and a beta of 0.84. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock’s 50 day simple moving average is $35.21 and its 200 day simple moving average is $34.62.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Equities research analysts expect that Enbridge Inc. will post 2.11 EPS for the current year.

Enbridge Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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