TrueMark Investments LLC Boosts Position in Enbridge Inc. (NYSE:ENB)

TrueMark Investments LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 66.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 185,621 shares of the pipeline company’s stock after purchasing an additional 73,825 shares during the quarter. Enbridge makes up approximately 2.5% of TrueMark Investments LLC’s portfolio, making the stock its biggest position. TrueMark Investments LLC’s holdings in Enbridge were worth $7,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mufg Securities Canada LTD. boosted its position in Enbridge by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 3,325,954 shares of the pipeline company’s stock valued at $141,070,000 after buying an additional 1,393,449 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Enbridge during the fourth quarter worth about $62,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Enbridge by 49.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,431 shares of the pipeline company’s stock worth $2,272,000 after purchasing an additional 17,700 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in Enbridge by 12.9% during the 4th quarter. Zions Bancorporation N.A. now owns 248,960 shares of the pipeline company’s stock valued at $10,563,000 after purchasing an additional 28,420 shares during the period. Finally, TD Asset Management Inc. raised its position in Enbridge by 2.8% during the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ENB. CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities assumed 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 raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research 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 company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

ENB opened at $44.44 on Wednesday. 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 cap of $96.84 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The stock has a fifty day simple moving average of $43.48 and a two-hundred day simple moving average of $42.42. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results 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. 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 analysts’ expectations of $4.78 billion. During the same period last year, the company posted $0.64 EPS. Research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.