Northwest & Ethical Investments L.P. Acquires 5,280 Shares of Enbridge Inc. (NYSE:ENB)

Northwest & Ethical Investments L.P. grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 843,563 shares of the pipeline company’s stock after purchasing an additional 5,280 shares during the period. Enbridge makes up about 1.0% of Northwest & Ethical Investments L.P.’s portfolio, making the stock its 14th biggest position. Northwest & Ethical Investments L.P.’s holdings in Enbridge were worth $35,739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC increased its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge in the 4th quarter worth about $29,000. Wintrust Investments LLC increased its holdings in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Enbridge in the 3rd quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.7 %

NYSE ENB opened at $43.73 on Thursday. The business’s 50-day moving average price is $43.45 and its two-hundred day moving average price is $42.30. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $45.78. The firm has a market capitalization of $95.28 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

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

Wall Street Analyst Weigh In

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