Rockefeller Capital Management L.P. Purchases 30,452 Shares of Enbridge Inc. (NYSE:ENB)

Rockefeller Capital Management L.P. increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 296,126 shares of the pipeline company’s stock after buying an additional 30,452 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Enbridge were worth $12,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. GQG Partners LLC lifted its stake in Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. boosted its position in Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after buying an additional 1,040,799 shares during the period. Norges Bank bought a new position in shares of Enbridge during the fourth quarter valued at about $909,415,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after buying an additional 176,733 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $44.19 on Wednesday. The business has a 50 day moving average of $43.14 and a 200 day moving average of $42.71. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12. The company has a market cap of $96.30 billion, a PE ratio of 25.69, a P/E/G ratio of 3.92 and a beta of 0.80. 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 (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping 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 analyst estimates of $4.78 billion. During the same period last year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ENB shares. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Finally, TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.