Sippican Capital Advisors boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,162 shares of the pipeline company’s stock after buying an additional 1,200 shares during the quarter. Sippican Capital Advisors’ holdings in Enbridge were worth $514,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Enbridge by 23.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 101,894 shares of the pipeline company’s stock valued at $3,691,000 after acquiring an additional 19,321 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in Enbridge in the first quarter valued at approximately $73,000. Allred Capital Management LLC acquired a new position in Enbridge in the first quarter valued at approximately $215,000. TIAA FSB boosted its stake in Enbridge by 13.9% in the first quarter. TIAA FSB now owns 33,141 shares of the pipeline company’s stock valued at $1,202,000 after acquiring an additional 4,039 shares during the period. Finally, Landsberg Bennett & Dubbaneh LLC boosted its stake in Enbridge by 23.3% in the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 11,225 shares of the pipeline company’s stock valued at $414,000 after acquiring an additional 2,121 shares during the period. Institutional investors own 56.43% of the company’s stock.
In related news, insider Allen C. Capps sold 6,514 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total transaction of $241,148.28. Following the sale, the insider now owns 3,437 shares of the company’s stock, valued at $127,237.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Albert Monaco bought 7,806 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average cost of $49.33 per share, for a total transaction of $385,069.98. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.
A number of equities analysts have commented on the company. Barclays assumed coverage on Enbridge in a research note on Tuesday, April 9th. They issued an “overweight” rating for the company. Industrial Alliance Securities restated a “buy” rating on shares of Enbridge in a research note on Monday, April 8th. ValuEngine downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. National Bank Financial upgraded Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Wednesday, March 20th. Finally, Zacks Investment Research downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $46.46.
Shares of NYSE ENB traded up $0.20 during midday trading on Wednesday, hitting $37.31. 81,434 shares of the company’s stock were exchanged, compared to its average volume of 2,710,813. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. The company has a market cap of $75.08 billion, a PE ratio of 18.19, a P/E/G ratio of 2.40 and a beta of 0.69. Enbridge Inc has a twelve month low of $28.82 and a twelve month high of $37.69.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 15th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The business had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $12.27 billion. Enbridge had a return on equity of 8.72% and a net margin of 5.64%. During the same period in the previous year, the firm posted $0.61 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 1.72 earnings per share for the current fiscal year.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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