Steward Partners Investment Advisory LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

Steward Partners Investment Advisory LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 33.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,526 shares of the pipeline company’s stock after acquiring an additional 23,079 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Enbridge were worth $3,926,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. apricus wealth LLC boosted its stake in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after acquiring an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. boosted its stake in Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 230 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in Enbridge by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after acquiring an additional 242 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.00.

Enbridge Trading Down 2.0 %

Shares of NYSE ENB opened at $41.64 on Friday. The firm’s 50 day moving average price is $43.45 and its 200-day moving average price is $42.06. The company has a market cap of $90.73 billion, a PE ratio of 24.21, a P/E/G ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal 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.