Global Retirement Partners LLC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.8% during the first quarter, Holdings Channel reports. The firm owned 12,270 shares of the pipeline company’s stock after purchasing an additional 330 shares during the period. Global Retirement Partners LLC’s holdings in Enbridge were worth $445,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Enbridge by 58.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Front Row Advisors LLC lifted its holdings in shares of Enbridge by 3,985.7% during the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 837 shares in the last quarter. Rockland Trust Co. acquired a new position in shares of Enbridge during the 4th quarter valued at $28,000. We Are One Seven LLC acquired a new position in shares of Enbridge during the 4th quarter valued at $28,000. Finally, First Interstate Bank lifted its holdings in shares of Enbridge by 330.9% during the 4th quarter. First Interstate Bank now owns 1,004 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 771 shares in the last quarter. Institutional investors own 56.95% of the company’s stock.
ENB opened at $37.05 on Friday. The stock has a market capitalization of $74.21 billion, a PE ratio of 18.07, a P/E/G ratio of 2.35 and a beta of 0.69. Enbridge Inc has a 1-year low of $28.82 and a 1-year high of $37.96. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.92.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The company had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, equities analysts expect that Enbridge Inc will post 1.8 EPS for the current year.
In other news, insider William T. Yardley sold 14,900 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the sale, the insider now owns 94,770 shares of the company’s stock, valued at approximately $3,504,594.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia L. Hansen acquired 799 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $49.13 per share, with a total value of $39,254.87. Following the transaction, the insider now owns 105,423 shares in the company, valued at $5,179,431.99. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by insiders.
A number of equities analysts have commented on ENB shares. ValuEngine upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Wells Fargo & Co reiterated a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, February 14th. Bank of America reiterated a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. Finally, Industrial Alliance Securities reiterated a “buy” rating on shares of Enbridge in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $46.46.
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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