Enbridge Inc $ENB Stock Holdings Lifted by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,212,807 shares of the pipeline company’s stock after acquiring an additional 46,227 shares during the period. Enbridge makes up about 1.5% of Miller Howard Investments Inc. NY’s holdings, making the stock its 27th largest holding. Miller Howard Investments Inc. NY owned approximately 0.05% of Enbridge worth $56,383,000 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. Envestnet Asset Management Inc. raised its stake in shares of Enbridge by 0.7% in the second quarter. Envestnet Asset Management Inc. now owns 3,844,716 shares of the pipeline company’s stock valued at $208,427,000 after acquiring an additional 26,591 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Enbridge by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock valued at $599,709,000 after purchasing an additional 268,800 shares during the period. Empowered Funds LLC grew its stake in Enbridge by 24.2% during the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company’s stock worth $5,956,000 after purchasing an additional 21,442 shares in the last quarter. SCS Capital Management LLC acquired a new position in Enbridge during the 2nd quarter worth $9,204,000. Finally, BlackRock Inc. acquired a new position in Enbridge during the 2nd quarter worth $183,623,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $48.28 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average price of $48.49 and a 200 day moving average price of $52.07. The company has a market cap of $107.61 billion, a P/E ratio of 25.82, a PEG ratio of 5.75 and a beta of 0.60. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ENB. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, August 19th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Jefferies Financial Group reissued a “hold” rating on shares of Enbridge in a research report on Monday, September 14th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.88.

About Enbridge

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.