Jaffetilchin Investment Partners LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

Jaffetilchin Investment Partners LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,449 shares of the pipeline company’s stock after buying an additional 533 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Enbridge were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Enbridge during the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after acquiring an additional 9,621,425 shares in the last quarter. Raymond James Financial Inc. bought a new position in Enbridge in the 4th quarter worth $180,941,000. Vanguard Group Inc. lifted its holdings in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of 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 period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $43.28 on Friday. The company has a market capitalization of $94.31 billion, a P/E ratio of 25.16, a P/E/G ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $46.12. The firm’s 50 day simple moving average is $43.14 and its two-hundred day simple moving average is $42.66. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

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

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.