Enbridge Inc $ENB Stake Increased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 601,500 shares of the pipeline company’s stock after acquiring an additional 100,000 shares during the quarter. Enbridge accounts for about 1.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 21st largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Enbridge were worth $28,770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC increased its stake in shares of Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the last quarter. Triumph Capital Management bought a new stake in Enbridge during the third quarter valued at $26,000. Highline Wealth Partners LLC increased its stake in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the last quarter. Turning Point Benefit Group Inc. bought a new stake in Enbridge during the third quarter valued at $28,000. Finally, True Wealth Design LLC increased its stake in Enbridge by 588.2% during the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of several recent research reports. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Stock Performance

Shares of ENB opened at $52.70 on Friday. The firm has a 50-day moving average price of $53.36 and a 200 day moving average price of $49.69. The firm has a market capitalization of $115.06 billion, a PE ratio of 22.91 and a beta of 0.63. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $55.44.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, sell-side analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.