Essential Planning LLC. Acquires Shares of 25,545 Enbridge Inc. (NYSE:ENB)

Essential Planning LLC. acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, Holdings Channel reports. The fund acquired 25,545 shares of the pipeline company’s stock, valued at approximately $1,069,000.

Other hedge funds also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth approximately $180,941,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the period. National Bank of Canada FI boosted its holdings in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in shares of Enbridge by 55.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after purchasing an additional 1,472,789 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

NYSE ENB opened at $42.64 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $92.90 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a 50 day moving average price of $43.46 and a two-hundred day moving average price of $42.17. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.