Wedbush Securities Inc. Has $1.52 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Wedbush Securities Inc. lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,727 shares of the pipeline company’s stock after selling 292 shares during the quarter. Wedbush Securities Inc.’s holdings in Enbridge were worth $1,516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Enbridge in the fourth quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Enbridge by 396.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after acquiring an additional 9,621,425 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Enbridge by 30.5% in the 4th quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock valued at $571,389,000 after purchasing an additional 3,091,442 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 4.4 %

Shares of NYSE:ENB opened at $43.34 on Friday. The firm has a market cap of $94.44 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.92 and a beta of 0.95. The business has a fifty day simple moving average of $43.45 and a 200 day simple moving average of $42.62. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $46.12.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business posted $0.64 earnings per share. Analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Enbridge Company 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.