TrueMark Investments LLC Has $7.88 Million Holdings in Enbridge Inc. (NYSE:ENB)

TrueMark Investments LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 66.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,621 shares of the pipeline company’s stock after buying an additional 73,825 shares during the quarter. Enbridge accounts for 2.5% of TrueMark Investments LLC’s portfolio, making the stock its largest position. TrueMark Investments LLC’s holdings in Enbridge were worth $7,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ENB. Thrivent Financial for Lutherans raised its stake in shares of Enbridge by 23.4% in the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock worth $1,895,000 after purchasing an additional 8,848 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in Enbridge by 19.6% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 20,161 shares of the pipeline company’s stock valued at $818,000 after acquiring an additional 3,311 shares during the period. Cerity Partners LLC boosted its holdings in shares of Enbridge by 6.8% during the 3rd quarter. Cerity Partners LLC now owns 190,814 shares of the pipeline company’s stock valued at $7,749,000 after acquiring an additional 12,154 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Enbridge by 57.9% in the third quarter. Larson Financial Group LLC now owns 5,357 shares of the pipeline company’s stock worth $218,000 after acquiring an additional 1,965 shares during the period. Finally, Centaurus Financial Inc. raised its holdings in shares of Enbridge by 1.7% during the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after purchasing an additional 256 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Up 0.4 %

ENB opened at $44.44 on Wednesday. The firm’s 50 day simple moving average is $43.48 and its two-hundred day simple moving average is $42.42. The company has a market capitalization of $96.84 billion, a PE ratio of 25.84, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $45.78. 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 released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share 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 the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

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.