Cullen Capital Management LLC Purchases 480 Shares of Enbridge Inc. (NYSE:ENB)

Cullen Capital Management LLC lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,860 shares of the pipeline company’s stock after purchasing an additional 480 shares during the quarter. Cullen Capital Management LLC’s holdings in Enbridge were worth $334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in shares of Enbridge by 0.9% in the 4th quarter. Wells Fargo & Company MN now owns 4,399,582 shares of the pipeline company’s stock valued at $186,674,000 after acquiring an additional 38,868 shares in the last quarter. Smith Moore & CO. raised its stake in Enbridge by 0.9% in the fourth quarter. Smith Moore & CO. now owns 44,086 shares of the pipeline company’s stock valued at $1,871,000 after purchasing an additional 398 shares in the last quarter. Prudential PLC lifted its position in Enbridge by 37.5% during the fourth quarter. Prudential PLC now owns 15,947 shares of the pipeline company’s stock valued at $676,000 after purchasing an additional 4,346 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Enbridge in the 4th quarter worth approximately $5,550,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Enbridge in the 4th quarter worth $221,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Trading Down 4.4 %

NYSE ENB opened at $43.34 on Friday. The firm has a market cap of $94.44 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $46.12. The stock has a 50-day moving average of $43.45 and a 200-day moving average of $42.62. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data 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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge 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.