Turtle Creek Wealth Advisors LLC Raises Position in Enbridge Inc $ENB

Turtle Creek Wealth Advisors LLC raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 32.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,856 shares of the pipeline company’s stock after acquiring an additional 12,639 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Enbridge were worth $2,480,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Tsfg LLC lifted its holdings in 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 period. Triumph Capital Management purchased a new stake in Enbridge in the third quarter worth about $26,000. Turning Point Benefit Group Inc. purchased a new stake in Enbridge in the third quarter worth about $28,000. True Wealth Design LLC lifted its holdings in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares during the period. Finally, Imprint Wealth LLC purchased a new stake in Enbridge in the third quarter worth about $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ENB. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Royal Bank Of Canada raised their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Trading Up 1.4%

Shares of NYSE ENB opened at $52.54 on Friday. The firm’s 50 day moving average price is $53.43 and its 200-day moving average price is $49.75. The company has a market cap of $114.73 billion, a PE ratio of 22.84 and a beta of 0.63. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $55.44. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to the consensus estimate 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 earnings per share. On average, equities research analysts expect that Enbridge Inc will post 2.23 EPS 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.