Tennessee Valley Asset Management Partners Acquires Shares of 776 Enbridge Inc. (NYSE:ENB)

Tennessee Valley Asset Management Partners acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 776 shares of the pipeline company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hartford Financial Management Inc. lifted its holdings in shares of Enbridge by 5.5% during the fourth quarter. Hartford Financial Management Inc. now owns 56,716 shares of the pipeline company’s stock valued at $2,043,000 after acquiring an additional 2,937 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Enbridge by 25.5% during the fourth quarter. Perigon Wealth Management LLC now owns 8,513 shares of the pipeline company’s stock valued at $307,000 after acquiring an additional 1,728 shares during the period. Sutton Place Investors LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at $664,000. Sapient Capital LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at $592,000. Finally, Janiczek Wealth Management LLC increased its stake in shares of Enbridge by 38.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 13,177 shares of the pipeline company’s stock valued at $475,000 after buying an additional 3,665 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $35.67 on Thursday. The stock has a 50-day moving average price of $35.12 and a 200 day moving average price of $34.77. 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 firm has a market cap of $75.83 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 3.31 and a beta of 0.84. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on Enbridge in a research note 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, Enbridge has a consensus rating of “Hold” and an average price target of $55.20.

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.