Cullen Capital Management LLC Buys 480 Shares of Enbridge Inc. (NYSE:ENB)

Cullen Capital Management LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.5% during the fourth quarter, Holdings Channel reports. The fund owned 7,860 shares of the pipeline company’s stock after purchasing an additional 480 shares during the period. Cullen Capital Management LLC’s holdings in Enbridge were worth $334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC grew its stake in shares of 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 buying an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in Enbridge during the 4th quarter valued at about $29,000. Wintrust Investments LLC increased its stake in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its holdings in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of Enbridge in the fourth quarter worth approximately $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ENB. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Citigroup assumed coverage on Enbridge in a research note on Friday. They issued a “buy” rating for the company. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Down 4.4 %

NYSE:ENB opened at $43.34 on Friday. The company has a market cap of $94.44 billion, a PE ratio of 25.20, 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. The company has a 50 day simple moving average of $43.45 and a two-hundred day simple moving average of $42.62. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $46.12.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS 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 company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Company 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.