Pictet Asset Management Holding SA Acquires 11,994 Shares of Enbridge Inc $ENB

Pictet Asset Management Holding SA grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 967,602 shares of the pipeline company’s stock after buying an additional 11,994 shares during the period. Pictet Asset Management Holding SA’s holdings in Enbridge were worth $46,358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. TD Asset Management Inc lifted its stake in Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after purchasing an additional 137,897 shares during the last quarter. Scotia Capital Inc. lifted its stake in Enbridge by 2.1% in the 3rd quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock valued at $723,404,000 after purchasing an additional 300,391 shares during the last quarter. Amundi boosted its position in Enbridge by 3.2% in the third quarter. Amundi now owns 9,638,460 shares of the pipeline company’s stock valued at $479,706,000 after buying an additional 295,942 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ENB. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Royal Bank Of Canada increased their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Trading Up 0.6%

Shares of NYSE ENB opened at $53.36 on Thursday. The firm has a 50 day moving average price of $53.47 and a two-hundred day moving average price of $49.88. The stock has a market cap of $116.52 billion, a P/E ratio of 23.20 and a beta of 0.63. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $55.44. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The company had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, equities analysts forecast that Enbridge Inc will post 2.22 EPS for the current 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.