4,264,463 Shares in Enbridge Inc. (NYSE:ENB) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel reports. The firm purchased 4,264,463 shares of the pipeline company’s stock, valued at approximately $180,941,000.

A number of other hedge funds also recently modified their holdings of ENB. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT bought a new position in Enbridge in the fourth quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in Enbridge in the third quarter valued at about $37,000. Dixon Mitchell Investment Counsel Inc. grew its position in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Enbridge in the fourth quarter valued at about $42,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $42.00 on Friday. The business’s 50-day moving average price is $43.45 and its 200-day moving average price is $42.08. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The firm has a market capitalization of $91.51 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current 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.