865 Shares in Enbridge Inc. (NYSE:ENB) Purchased by Fortitude Family Office LLC

Fortitude Family Office LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 865 shares of the pipeline company’s stock, valued at approximately $35,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares in the last quarter. TD Asset Management Inc grew its position in Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after acquiring an additional 337,729 shares in the last quarter. 1832 Asset Management L.P. grew its position in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after acquiring an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. grew its position in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Enbridge by 3.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after acquiring an additional 827,540 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

Shares of Enbridge stock opened at $40.60 on Thursday. Enbridge Inc. has a one year low of $31.68 and a one year high of $42.16. The company has a market cap of $86.64 billion, a PE ratio of 20.61, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The business has a 50-day simple moving average of $40.69 and a 200-day simple moving average of $37.87.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the company posted $0.51 earnings per share. On average, equities research analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal 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.