Assenagon Asset Management S.A. Has $4.80 Million Stock Position in Enbridge Inc $ENB

Assenagon Asset Management S.A. increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 33.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,291 shares of the pipeline company’s stock after purchasing an additional 24,990 shares during the period. Assenagon Asset Management S.A.’s holdings in Enbridge were worth $4,803,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. IHT Wealth Management LLC grew its stake in Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after purchasing an additional 213 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after purchasing an additional 215 shares during the last quarter. Copperleaf Capital LLC raised its stake in shares of Enbridge by 3.6% in the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 217 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Enbridge by 2.9% during the third quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 221 shares during the period. Finally, PFG Advisors lifted its holdings in shares of Enbridge by 4.2% during the third quarter. PFG Advisors now owns 5,479 shares of the pipeline company’s stock worth $276,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Stock Up 0.2%

Shares of ENB stock opened at $54.59 on Friday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $55.11. The stock has a market cap of $119.13 billion, a P/E ratio of 23.73 and a beta of 0.67. The stock has a 50 day moving average of $51.81 and a 200 day moving average of $49.23. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, sell-side analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.