Korea Investment CORP Grows Stock Position in Enbridge Inc. (NYSE:ENB)

Korea Investment CORP boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 48.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,480,533 shares of the pipeline company’s stock after buying an additional 483,765 shares during the period. Korea Investment CORP’s holdings in Enbridge were worth $62,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Enbridge in the 4th quarter valued at approximately $180,941,000. Vanguard Group Inc. increased its position in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. National Bank of Canada FI raised its stake 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 in the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after buying an additional 1,495,742 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.3 %

ENB opened at $44.38 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. The company has a market cap of $96.72 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78. The business’s fifty day moving average is $43.49 and its two-hundred day moving average is $42.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS 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 business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm earned $0.64 EPS. Analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ENB. 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 report on Tuesday, February 18th. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, CIBC reiterated 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 three have assigned a buy rating to the stock. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge 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.