Premier Fund Managers Ltd Has $11.72 Million Holdings in Enbridge Inc. (NYSE:ENB)

Premier Fund Managers Ltd raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 85.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,800 shares of the pipeline company’s stock after acquiring an additional 128,800 shares during the period. Premier Fund Managers Ltd’s holdings in Enbridge were worth $11,724,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ENB. McIlrath & Eck LLC raised its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $29,000. Wintrust Investments LLC boosted its stake in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its stake in Enbridge by 149.9% during 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 in the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in Enbridge during the 4th quarter valued at $42,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENB has been the subject of several research reports. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $44.38 on Friday. The company has a market capitalization of $96.72 billion, a PE ratio of 25.80, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $45.78. The stock has a 50-day moving average price of $43.49 and a two-hundred day moving average price of $42.45. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.64 earnings per share. Analysts expect 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.