Russell Investments Group Ltd. Has $159.46 Million Stock Position in Enbridge Inc $ENB

Russell Investments Group Ltd. grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,163,533 shares of the pipeline company’s stock after buying an additional 109,620 shares during the quarter. Russell Investments Group Ltd.’s holdings in Enbridge were worth $159,464,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tsfg LLC raised its holdings in shares of Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares during the period. Highline Wealth Partners LLC lifted its position in Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 236 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Enbridge in the 2nd quarter worth $29,000. True Wealth Design LLC increased its holdings in Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Enbridge during the 2nd quarter worth about $31,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the topic of several recent research reports. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada boosted their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Trading Up 0.4%

Enbridge stock opened at $54.08 on Monday. The company has a market cap of $117.99 billion, a price-to-earnings ratio of 23.51 and a beta of 0.67. The firm has a 50-day moving average of $49.62 and a 200-day moving average of $48.60. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. Enbridge Inc has a one year low of $39.73 and a one year high of $54.42.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.