Knuff & Co LLC Raises Position in Enbridge Inc. (NYSE:ENB)

Knuff & Co LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,252 shares of the pipeline company’s stock after purchasing an additional 252 shares during the period. Knuff & Co LLC’s holdings in Enbridge were worth $96,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank lifted its stake in Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after buying an additional 207,200 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after buying an additional 7,986 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ENB shares. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Down 0.7 %

Enbridge stock opened at $42.38 on Wednesday. The firm has a market cap of $92.34 billion, a price-to-earnings ratio of 24.64, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The firm has a fifty day moving average price of $43.46 and a two-hundred day moving average price of $42.17.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (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 firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.