Holderness Investments Co. Boosts Stake in Enbridge Inc. (NYSE:ENB)

Holderness Investments Co. grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,514 shares of the pipeline company’s stock after buying an additional 713 shares during the period. Holderness Investments Co.’s holdings in Enbridge were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter worth $29,000. Wintrust Investments LLC increased its stake in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Enbridge in the third quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its stake in shares of Enbridge by 149.9% in the fourth 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. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Up 1.1 %

ENB stock opened at $44.21 on Friday. The firm has a market cap of $96.34 billion, a PE ratio of 25.70, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm’s fifty day moving average is $43.45 and its 200 day moving average is $42.31. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78.

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

About Enbridge

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.