one8zero8 LLC Acquires Shares of 36,575 Enbridge Inc. (NYSE:ENB)

one8zero8 LLC purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 36,575 shares of the pipeline company’s stock, valued at approximately $1,552,000.

Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank boosted its stake in shares of Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after acquiring an additional 207,200 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after acquiring an additional 7,986 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of Enbridge stock opened at $42.86 on Friday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a market cap of $93.38 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The business’s 50 day moving average price is $43.45 and its 200 day moving average price is $42.21.

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

Wall Street Analyst Weigh In

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