1ST Source Bank Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

1ST Source Bank lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,698 shares of the pipeline company’s stock after purchasing an additional 1,295 shares during the period. 1ST Source Bank’s holdings in Enbridge were worth $878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% during 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 valued at approximately $29,000. Wintrust Investments LLC lifted its holdings in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the period. Darwin Wealth Management LLC purchased a new position in Enbridge in the third quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in 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 period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted 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. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Up 0.7 %

Shares of NYSE ENB opened at $42.86 on Monday. The business’s fifty day moving average price is $43.45 and its 200-day moving average price is $42.23. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The stock has a market capitalization of $93.38 billion, a PE ratio of 24.92, a P/E/G 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 (NYSE:ENB) (TSE:ENB) last issued 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 firm 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 quarter last year, the business earned $0.64 earnings per share. On average, equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current 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.