HighPoint Advisor Group LLC Purchases 2,296 Shares of Enbridge Inc. (NYSE:ENB)

HighPoint Advisor Group LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,264 shares of the pipeline company’s stock after purchasing an additional 2,296 shares during the period. HighPoint Advisor Group LLC’s holdings in Enbridge were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Enbridge by 9.4% in the 3rd quarter. FMR LLC now owns 4,932,822 shares of the pipeline company’s stock worth $200,384,000 after purchasing an additional 425,706 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Enbridge by 734.9% during the third quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after purchasing an additional 47,063 shares during the period. CreativeOne Wealth LLC raised its position in shares of Enbridge by 36.8% in the third quarter. CreativeOne Wealth LLC now owns 7,996 shares of the pipeline company’s stock valued at $325,000 after buying an additional 2,152 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Enbridge by 13.5% in the third quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company’s stock valued at $310,000 after buying an additional 910 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Enbridge in the third quarter valued at approximately $1,572,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the topic of a number of recent research reports. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada upped their price objective 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Down 0.5 %

NYSE ENB opened at $44.23 on Tuesday. The business has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $42.53. The stock has a market capitalization of $96.37 billion, a PE ratio of 25.71, a PEG ratio of 3.92 and a beta of 0.95. 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 current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping 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 business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the company earned $0.64 EPS. Equities analysts expect that Enbridge Inc. will post 2.14 earnings per share 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.