Enbridge Inc. (NYSE:ENB) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its holdings in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,532 shares of the pipeline company’s stock after purchasing an additional 6,140 shares during the period. Pinnacle Associates Ltd.’s holdings in Enbridge were worth $3,297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SVB Wealth LLC grew its position in Enbridge by 3.1% during the first quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after purchasing an additional 297 shares in the last quarter. North Star Investment Management Corp. grew its stake in shares of Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 300 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in Enbridge by 25.3% in the 3rd quarter. Independence Bank of Kentucky now owns 1,681 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 339 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Enbridge by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after buying an additional 341 shares during the last quarter. Finally, Marino Stram & Associates LLC raised its holdings in Enbridge by 1.6% in the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 344 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.20.

Get Our Latest Research Report on ENB

Enbridge Stock Up 0.5 %

Shares of Enbridge stock opened at $36.18 on Monday. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The business has a fifty day simple moving average of $35.21 and a 200 day simple moving average of $34.61. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The stock has a market cap of $76.90 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 3.42 and a beta of 0.83.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Research analysts predict that Enbridge Inc. will post 2.11 EPS for the current year.

Enbridge Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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