Raymond James Financial Inc. Takes Position in Enbridge Inc. (NYSE:ENB)

Raymond James Financial Inc. purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,264,463 shares of the pipeline company’s stock, valued at approximately $180,941,000. Raymond James Financial Inc. owned about 0.20% of Enbridge at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares during the last quarter. National Bank of Canada FI lifted its holdings in 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 valued at $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Enbridge by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.0 %

ENB opened at $42.00 on Friday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. 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 capitalization of $91.51 billion, a P/E ratio of 24.42, a P/E/G ratio of 3.92 and a beta of 0.95. The stock has a fifty day moving average of $43.45 and a 200-day moving average of $42.08.

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 analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.64 earnings per share. On average, equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Analyst Ratings Changes

ENB has been the subject of several research reports. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.