Cerity Partners LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

Cerity Partners LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 41.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,744 shares of the pipeline company’s stock after purchasing an additional 39,079 shares during the period. Cerity Partners LLC’s holdings in Enbridge were worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ENB. Harbor Investment Advisory LLC increased its holdings in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after buying an additional 280 shares in the last quarter. SVB Wealth LLC grew its position in shares of Enbridge by 3.1% in 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 during the period. North Star Investment Management Corp. grew its position 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 valued at $55,000 after purchasing an additional 300 shares during the period. Independence Bank of Kentucky grew its position in shares of Enbridge by 25.3% in the third 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. Finally, First Citizens Bank & Trust Co. grew its position in shares of Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $32.97 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm has a market capitalization of $70.09 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.21 and a beta of 0.84. The company’s 50-day moving average is $35.05 and its two-hundred day moving average is $34.66. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30.

Enbridge (NYSE:ENB) (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). The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. Analysts forecast that Enbridge Inc. will post 2.13 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENB. Stifel Nicolaus began coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.20.

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.