Wellington Management Group LLP Acquires 7,890 Shares of Enbridge Inc. (NYSE:ENB)

Wellington Management Group LLP raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,150,521 shares of the pipeline company’s stock after acquiring an additional 7,890 shares during the quarter. Wellington Management Group LLP’s holdings in Enbridge were worth $48,806,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Enbridge in the 4th quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Enbridge by 396.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after buying an additional 9,621,425 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Enbridge in the fourth quarter worth about $180,941,000. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 3,611,421 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB opened at $43.34 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a one year low of $32.86 and a one year high of $46.12. The company has a fifty day moving average price of $43.45 and a 200 day moving average price of $42.62. The stock has a market cap of $94.44 billion, a P/E ratio of 25.20, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the company earned $0.64 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ENB. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a research report on Friday. They set a “buy” rating for the company. Finally, Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.