Pictet Asset Management Holding SA Lowers Position in Enbridge Inc. (NYSE:ENB)

Pictet Asset Management Holding SA reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 967,733 shares of the pipeline company’s stock after selling 10,839 shares during the period. Pictet Asset Management Holding SA’s holdings in Enbridge were worth $41,053,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Duff & Phelps Investment Management Co. lifted its holdings in shares of Enbridge by 10.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,439,951 shares of the pipeline company’s stock worth $61,097,000 after acquiring an additional 137,819 shares during the last quarter. Norges Bank acquired a new position in Enbridge during the fourth quarter worth $909,415,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of Enbridge during the fourth quarter worth $658,000. Korea Investment CORP grew its stake in shares of Enbridge by 48.5% in the fourth quarter. Korea Investment CORP now owns 1,480,533 shares of the pipeline company’s stock valued at $62,806,000 after buying an additional 483,765 shares in the last quarter. Finally, Hardin Capital Partners LLC raised its holdings in shares of Enbridge by 54.7% in the 4th quarter. Hardin Capital Partners LLC now owns 9,301 shares of the pipeline company’s stock valued at $395,000 after buying an additional 3,289 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $44.43 on Monday. The business has a 50-day simple moving average of $43.49 and a 200-day simple moving average of $42.50. 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 $45.78. The company has a market cap of $96.82 billion, a PE ratio of 25.83, a P/E/G ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ENB has been the subject of several research reports. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company 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.