Wells Fargo & Company MN Has $186.67 Million Holdings in Enbridge Inc. (NYSE:ENB)

Wells Fargo & Company MN raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,399,582 shares of the pipeline company’s stock after buying an additional 38,868 shares during the period. Wells Fargo & Company MN’s holdings in Enbridge were worth $186,674,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its position in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter worth $29,000. Wintrust Investments LLC grew its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. raised its stake in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the period. Finally, Hopwood Financial Services Inc. bought a new position in Enbridge during the fourth quarter worth about $42,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

Shares of ENB opened at $43.34 on Friday. 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 twelve month low of $32.86 and a twelve month high of $46.12. The stock has a market capitalization 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 company has a 50 day moving average of $43.45 and a 200-day moving average of $42.62.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating 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 firm 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 business earned $0.64 EPS. As a group, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

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.