Finward Bancorp Buys Shares of 9,885 Enbridge Inc. (NYSE:ENB)

Finward Bancorp purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,885 shares of the pipeline company’s stock, valued at approximately $419,000.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the period. TD Asset Management Inc. raised its stake in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares in the last quarter. Norges Bank acquired a new stake in Enbridge in the fourth quarter worth about $909,415,000. Finally, JPMorgan Chase & Co. grew its position in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ENB shares. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Citigroup began coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Up 0.4 %

Enbridge stock opened at $44.19 on Wednesday. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $46.12. The firm’s 50 day moving average price is $43.14 and its two-hundred day moving average price is $42.71. The firm has a market cap of $96.30 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal 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.