NewEdge Advisors LLC Acquires 55,264 Shares of Enbridge Inc. (NYSE:ENB)

NewEdge Advisors LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,892 shares of the pipeline company’s stock after purchasing an additional 55,264 shares during the period. NewEdge Advisors LLC’s holdings in Enbridge were worth $15,313,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Evergreen Capital Management LLC raised its holdings in shares of Enbridge by 3.6% in the fourth quarter. Evergreen Capital Management LLC now owns 121,304 shares of the pipeline company’s stock valued at $5,147,000 after buying an additional 4,239 shares during the last quarter. Finward Bancorp bought a new position in shares of Enbridge in the fourth quarter worth about $419,000. CacheTech Inc. raised its stake in shares of Enbridge by 12.9% in the fourth quarter. CacheTech Inc. now owns 17,254 shares of the pipeline company’s stock worth $732,000 after acquiring an additional 1,973 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Enbridge by 4.2% during the fourth quarter. Guggenheim Capital LLC now owns 28,270 shares of the pipeline company’s stock valued at $1,199,000 after purchasing an additional 1,128 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC increased its holdings in shares of Enbridge by 107.8% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 32,163 shares of the pipeline company’s stock valued at $1,364,000 after purchasing an additional 16,684 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.7 %

NYSE:ENB opened at $44.61 on Thursday. The stock’s fifty day simple moving average is $43.14 and its 200-day simple moving average is $42.72. The firm has a market capitalization of $97.21 billion, a P/E ratio of 25.94, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $46.12.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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. The company had revenue of $11.59 billion during 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 company earned $0.64 EPS. Equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. Royal Bank of Canada raised their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus 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.