Lake Street Advisors Group LLC Invests $262,000 in Enbridge Inc (ENB) Stock

Lake Street Advisors Group LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,690 shares of the pipeline company’s stock, valued at approximately $262,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in Enbridge by 3.6% during the 4th quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 305,430 shares of the pipeline company’s stock worth $12,033,000 after purchasing an additional 10,519 shares during the period. DAVENPORT & Co LLC increased its holdings in Enbridge by 38.2% during the 4th quarter. DAVENPORT & Co LLC now owns 1,321,105 shares of the pipeline company’s stock worth $51,668,000 after purchasing an additional 365,415 shares during the period. Capital International Investors increased its holdings in Enbridge by 7.8% during the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after purchasing an additional 2,984,467 shares during the period. Capital City Trust Co. FL increased its holdings in Enbridge by 19.9% during the 4th quarter. Capital City Trust Co. FL now owns 22,936 shares of the pipeline company’s stock worth $959,000 after purchasing an additional 3,804 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Enbridge by 593.2% during the 4th quarter. BNP Paribas Arbitrage SA now owns 817,195 shares of the pipeline company’s stock worth $32,137,000 after purchasing an additional 699,313 shares during the period. Institutional investors own 63.20% of the company’s stock.

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In other news, Director Michael E. J. Phelps sold 18,054 shares of Enbridge stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total value of $613,836.00. Following the transaction, the director now directly owns 56,245 shares in the company, valued at approximately $1,912,330. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert R. Rooney purchased 6,100 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was bought at an average price of $40.80 per share, for a total transaction of $248,880.00. The disclosure for this purchase can be found here.

Several research analysts have commented on ENB shares. Bank of America started coverage on Enbridge in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Canaccord Genuity restated a “buy” rating and set a $54.00 price objective on shares of Enbridge in a report on Thursday, November 30th. Finally, Morgan Stanley reduced their price objective on Enbridge from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.67.

Enbridge Inc (NYSE:ENB) opened at $30.63 on Friday. Enbridge Inc has a fifty-two week low of $29.69 and a fifty-two week high of $42.92. The stock has a market capitalization of $52,771.27, a price-to-earnings ratio of 22.04, a PEG ratio of 2.27 and a beta of 0.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.63 and a quick ratio of 0.53.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.06. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.39 billion. sell-side analysts anticipate that Enbridge Inc will post 1.76 earnings per share for the current fiscal year.

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About Enbridge

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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