SlateStone Wealth LLC Grows Position in Enbridge Inc. (NYSE:ENB)

SlateStone Wealth LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,767 shares of the pipeline company’s stock after buying an additional 644 shares during the quarter. SlateStone Wealth LLC’s holdings in Enbridge were worth $754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge during the 4th quarter worth approximately $29,000. Wintrust Investments LLC raised its holdings 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 buying an additional 238 shares during the period. Darwin Wealth Management LLC purchased a new stake in Enbridge during the third quarter worth approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $42.86 on Monday. The company’s fifty day moving average price is $43.45 and its two-hundred day moving average price is $42.23. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market capitalization of $93.38 billion, a P/E ratio of 24.92, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share 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 firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.64 EPS. On average, research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.