First Citizens Bank & Trust Co. Acquires 4,742 Shares of Enbridge Inc. (NYSE:ENB)

First Citizens Bank & Trust Co. raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 67.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,799 shares of the pipeline company’s stock after purchasing an additional 4,742 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Enbridge were worth $425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ENB. Moneta Group Investment Advisors LLC lifted its position in shares of Enbridge by 109,143.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after purchasing an additional 48,423,715 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares in the last quarter. Norges Bank bought a new stake in shares of Enbridge in the fourth quarter valued at about $723,255,000. Vanguard Group Inc. raised its holdings in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Enbridge by 36.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after acquiring an additional 2,814,200 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ENB. Jefferies Financial Group began coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus began coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Price Performance

Shares of ENB stock opened at $35.86 on Wednesday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The firm has a market capitalization of $76.22 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 3.39 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The stock’s 50-day simple moving average is $35.21 and its 200-day simple moving average is $34.62.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. As a group, equities analysts forecast that Enbridge Inc. will post 2.11 earnings per share for the current fiscal year.

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.