State of Tennessee Department of Treasury Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

State of Tennessee Department of Treasury lifted its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,252,304 shares of the pipeline company's stock after purchasing an additional 6,944 shares during the quarter. State of Tennessee Department of Treasury owned about 0.06% of Enbridge worth $53,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC grew its stake 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 acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge in the 4th quarter worth about $29,000. Wintrust Investments LLC grew its position in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC raised its holdings in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after buying an additional 611 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. lifted its stake in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock worth $41,000 after buying an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of NYSE ENB traded down $0.27 during midday trading on Friday, hitting $46.10. 2,215,814 shares of the stock traded hands, compared to its average volume of 4,278,189. The firm has a market capitalization of $100.45 billion, a P/E ratio of 26.81, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a one year low of $34.60 and a one year high of $46.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a 50-day moving average of $43.27 and a two-hundred day moving average of $42.91.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.