LPL Financial LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

LPL Financial LLC grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,070,336 shares of the pipeline company’s stock after acquiring an additional 127,242 shares during the period. LPL Financial LLC owned about 0.14% of Enbridge worth $130,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Enbridge in the fourth quarter worth about $180,941,000. National Bank of Canada FI lifted its position in shares of Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in Enbridge by 1,131.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,545,283 shares of the pipeline company’s stock valued at $65,514,000 after buying an additional 1,419,766 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Enbridge by 44.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company’s stock valued at $156,098,000 after buying an additional 1,183,821 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $44.25 on Tuesday. The firm has a market capitalization of $96.42 billion, a PE ratio of 25.72, a PEG ratio of 3.92 and a beta of 0.95. The stock’s fifty day moving average is $43.48 and its 200 day moving average is $42.39. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. 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 for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENB shares. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.