Essential Planning LLC. Buys New Position in Enbridge Inc. (NYSE:ENB)

Essential Planning LLC. bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 25,545 shares of the pipeline company’s stock, valued at approximately $1,069,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. McIlrath & Eck LLC grew its position in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT bought a new position in Enbridge in the 4th quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in Enbridge in the 3rd quarter valued at about $37,000. Dixon Mitchell Investment Counsel Inc. grew its position in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Enbridge in the 4th quarter valued at about $42,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $42.64 on Thursday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $92.90 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 3.92 and a beta of 0.95. The firm has a 50-day moving average of $43.46 and a two-hundred day moving average of $42.17.

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

Analysts Set New Price Targets

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