1ST Source Bank Has $878,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

1ST Source Bank increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,698 shares of the pipeline company’s stock after acquiring an additional 1,295 shares during the quarter. 1ST Source Bank’s holdings in Enbridge were worth $878,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT bought a new position in Enbridge during the fourth quarter worth $29,000. Wintrust Investments LLC lifted its holdings in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. Darwin Wealth Management LLC bought a new stake in Enbridge during the third quarter valued at $37,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its holdings in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on ENB shares. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada increased their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Performance

Shares of Enbridge stock opened at $42.86 on Monday. The business has a 50-day simple moving average of $43.45 and a 200 day simple moving average of $42.23. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market capitalization of $93.38 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge 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.