May Hill Capital LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

May Hill Capital LLC purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,606 shares of the pipeline company’s stock, valued at approximately $323,000.

A number of other hedge funds have also made changes to their positions in the stock. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the fourth quarter worth $29,000. Wintrust Investments LLC boosted its position in Enbridge by 47.8% during 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 during the last quarter. Dixon Mitchell Investment Counsel Inc. grew its stake in 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 in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in Enbridge in the 4th quarter worth about $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $44.23 on Tuesday. The company has a market capitalization of $96.37 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78. The company’s fifty day moving average price is $43.49 and its 200 day moving average price is $42.53.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Enbridge Company 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.