Pictet Asset Management Holding SA Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Pictet Asset Management Holding SA decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 967,733 shares of the pipeline company’s stock after selling 10,839 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Enbridge were worth $41,053,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC grew its stake in Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after buying an additional 7,986 shares during the last quarter. Aviso Financial Inc. grew its position in shares of Enbridge by 4.3% during the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after acquiring an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after acquiring an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its position in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada increased their price objective on 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 Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

NYSE:ENB opened at $44.43 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The firm’s fifty day simple moving average is $43.49 and its 200-day simple moving average is $42.50. The stock has a market cap of $96.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during 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 period last year, the company posted $0.64 earnings per share. Analysts expect that Enbridge Inc. will post 2.14 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.