Davis R M Inc. Makes New $212,000 Investment in Enbridge Inc. (NYSE:ENB)

Davis R M Inc. purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,998 shares of the pipeline company’s stock, valued at approximately $212,000.

Other large investors have also bought and sold shares of the company. McIlrath & Eck LLC lifted its stake in shares of Enbridge by 74.9% in the third 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 shares of Enbridge in the fourth quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in shares of Enbridge in the third quarter valued at $37,000. Dixon Mitchell Investment Counsel Inc. lifted its stake in shares of Enbridge by 149.9% in the fourth 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 shares of Enbridge during the fourth quarter valued at about $42,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE ENB opened at $42.64 on Thursday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a 50-day simple moving average of $43.46 and a 200 day simple moving average of $42.17. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market capitalization of $92.90 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

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

Wall Street Analyst Weigh In

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