Enbridge Inc. (NYSE:ENB) Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,767 shares of the pipeline company’s stock after acquiring an additional 644 shares during the period. SlateStone Wealth LLC’s holdings in Enbridge were worth $754,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. GWN Securities Inc. purchased a new position in shares of Enbridge during the 4th quarter worth approximately $229,000. Corient Private Wealth LLC grew its holdings in Enbridge by 11.5% during the fourth quarter. Corient Private Wealth LLC now owns 245,819 shares of the pipeline company’s stock worth $10,430,000 after acquiring an additional 25,289 shares during the period. Ninepoint Partners LP lifted its holdings in Enbridge by 3.6% in the fourth quarter. Ninepoint Partners LP now owns 107,342 shares of the pipeline company’s stock valued at $4,555,000 after acquiring an additional 3,750 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Enbridge by 0.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 156,607 shares of the pipeline company’s stock worth $6,645,000 after purchasing an additional 999 shares in the last quarter. Finally, one8zero8 LLC acquired a new position in shares of Enbridge during the 4th quarter worth $1,552,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research analyst reports. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Up 0.7 %

Shares of NYSE ENB opened at $42.86 on Monday. 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’s 50-day moving average is $43.45 and its two-hundred day moving average is $42.23. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market capitalization of $93.38 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 EPS 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.