AssuredPartners Investment Advisors LLC Acquires New Stake in Enbridge Inc. (NYSE:ENB)

AssuredPartners Investment Advisors LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,508 shares of the pipeline company’s stock, valued at approximately $658,000.

A number of other large investors have also modified their holdings of ENB. McIlrath & Eck LLC grew 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 acquiring an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of Enbridge during the 4th quarter worth approximately $29,000. Wintrust Investments LLC grew its position in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. increased its holdings 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 valued at $41,000 after purchasing an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in Enbridge during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $44.38 on Friday. The stock has a fifty day simple moving average of $43.49 and a 200-day simple moving average 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. The stock has a market cap 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 twelve month low of $32.86 and a twelve month high of $45.78.

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 the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.64 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

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

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.