Ninepoint Partners LP Purchases 3,750 Shares of Enbridge Inc. (NYSE:ENB)

Ninepoint Partners LP lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,342 shares of the pipeline company’s stock after purchasing an additional 3,750 shares during the quarter. Enbridge comprises approximately 0.7% of Ninepoint Partners LP’s portfolio, making the stock its 17th largest holding. Ninepoint Partners LP’s holdings in Enbridge were worth $4,555,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge in the fourth quarter valued at $29,000. Wintrust Investments LLC increased its stake in 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 acquiring an additional 238 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Enbridge in the third quarter valued at $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased 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 acquiring an additional 580 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.7 %

Shares of NYSE:ENB opened at $42.86 on Friday. The stock’s 50-day moving average price is $43.45 and its 200-day moving average price is $42.21. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock has a market capitalization of $93.38 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 posted its 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 company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on ENB shares. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities assumed coverage on Enbridge in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.