Maxi Investments CY Ltd Purchases Shares of 20,200 Enbridge Inc $ENB

Maxi Investments CY Ltd acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,200 shares of the pipeline company’s stock, valued at approximately $1,019,000.

Several other hedge funds also recently made changes to their positions in the business. Tsfg LLC lifted its stake in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares in the last quarter. True Wealth Design LLC grew its position in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares during the last quarter. Imprint Wealth LLC bought a new position in shares of Enbridge in the third quarter valued at $31,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of Enbridge in the second quarter valued at $29,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of a number of recent research reports. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Up 0.9%

NYSE:ENB opened at $54.54 on Tuesday. The business’s fifty day moving average price is $50.37 and its 200 day moving average price is $48.87. The firm has a market capitalization of $119.00 billion, a price-to-earnings ratio of 23.71 and a beta of 0.67. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.60.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the company posted $0.75 EPS. On average, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.