Enbridge Inc $ENB Stake Boosted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.9% during the fourth quarter, HoldingsChannel reports. The fund owned 1,121,715 shares of the pipeline company’s stock after purchasing an additional 41,601 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Enbridge were worth $53,652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. grew its stake in shares of Enbridge by 83.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after buying an additional 1,044,093 shares in the last quarter. Jones Financial Companies Lllp raised its position in Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after acquiring an additional 221,976 shares in the last quarter. Trajan Wealth LLC raised its position in Enbridge by 15.3% during the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after acquiring an additional 106,784 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after acquiring an additional 24,165 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its stake in Enbridge by 5.7% in the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company’s stock valued at $48,026,000 after acquiring an additional 51,645 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Trading Up 0.2%

Shares of ENB stock opened at $54.59 on Friday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $55.11. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The business’s 50 day moving average is $51.81 and its two-hundred day moving average is $49.22. The company has a market cap of $119.13 billion, a PE ratio of 23.73 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the previous year, the company posted $0.75 earnings per share. Equities analysts predict that Enbridge Inc will post 2.14 EPS for the current 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.