Greenland Capital Management LP Buys 23,160 Shares of Enbridge Inc. (NYSE:ENB)

Greenland Capital Management LP increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 189.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,410 shares of the pipeline company’s stock after purchasing an additional 23,160 shares during the quarter. Greenland Capital Management LP’s holdings in Enbridge were worth $1,502,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FIL Ltd grew its position in shares of Enbridge by 17.0% during the 4th quarter. FIL Ltd now owns 10,084,416 shares of the pipeline company’s stock worth $428,015,000 after purchasing an additional 1,466,183 shares in the last quarter. Invesco Ltd. boosted its position in Enbridge by 1.9% during the fourth quarter. Invesco Ltd. now owns 6,145,432 shares of the pipeline company’s stock valued at $260,751,000 after acquiring an additional 115,403 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Enbridge by 13.8% in the 4th quarter. Cerity Partners LLC now owns 217,115 shares of the pipeline company’s stock valued at $9,111,000 after acquiring an additional 26,301 shares in the last quarter. Unigestion Holding SA acquired a new stake in Enbridge in the fourth quarter worth $10,699,000. Finally, Ted Buchan & Co boosted its position in shares of Enbridge by 8.5% during the 4th quarter. Ted Buchan & Co now owns 52,962 shares of the pipeline company’s stock worth $2,247,000 after purchasing an additional 4,163 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a 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. Citigroup assumed coverage on shares of Enbridge in a report on Friday. They issued a “buy” rating on the stock. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Down 3.3 %

Shares of NYSE ENB opened at $41.93 on Tuesday. The stock has a market capitalization of $91.36 billion, a P/E ratio of 24.38, a PEG ratio of 3.92 and a beta of 0.80. 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 one year low of $32.86 and a one year high of $46.12. The firm’s 50 day simple moving average is $43.40 and its two-hundred day simple moving average is $42.65.

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