Everstar Asset Management LLC Acquires New Stake in Enbridge Inc. (NYSE:ENB)

Everstar Asset Management LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,411 shares of the pipeline company’s stock, valued at approximately $399,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. McIlrath & Eck LLC raised its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter worth approximately $29,000. Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Enbridge by 149.9% in the 4th 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, Hopwood Financial Services Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 0.2 %

ENB opened at $44.43 on Monday. The company has a market cap of $96.82 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $42.50. 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 Inc. has a 1-year low of $32.86 and a 1-year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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. The business 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 prior year, the business earned $0.64 EPS. Analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

ENB has been the topic of several recent analyst reports. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Enbridge has a consensus 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.