American Century Companies Inc. Raises Position in Enbridge Inc. (NYSE:ENB)

American Century Companies Inc. increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,023 shares of the pipeline company’s stock after purchasing an additional 6,603 shares during the period. American Century Companies Inc.’s holdings in Enbridge were worth $9,466,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Enbridge in the 4th quarter valued at approximately $180,941,000. National Bank of Canada FI raised its stake 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 worth $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after buying an additional 985,546 shares in the last quarter. Brookfield Corp ON grew its stake in Enbridge by 5,337.9% in the 3rd quarter. Brookfield Corp ON now owns 989,969 shares of the pipeline company’s stock valued at $40,203,000 after acquiring an additional 971,764 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Enbridge by 431.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,057,996 shares of the pipeline company’s stock valued at $42,966,000 after acquiring an additional 858,932 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $45.14 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market cap of $98.37 billion, a PE ratio of 26.24, a P/E/G ratio of 3.92 and a beta of 0.95. The firm has a 50 day simple moving average of $43.48 and a 200-day simple moving average of $42.57. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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 return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ENB shares. Royal Bank of Canada increased their price target on shares of 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 report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.