Heathbridge Capital Management Ltd. purchased a new position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,300 shares of the pipeline company’s stock, valued at approximately $943,000. Enbridge accounts for 0.3% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 22nd biggest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Retirement Planning Group LLC increased its stake in Enbridge by 3.6% in the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after buying an additional 187 shares during the period. Bank & Trust Co boosted its position in Enbridge by 0.6% in the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after buying an additional 193 shares during the period. Cornerstone Wealth Management LLC boosted its position in Enbridge by 0.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after buying an additional 194 shares during the period. Clearwave Capital LLC grew its stake in Enbridge by 0.9% in the 2nd quarter. Clearwave Capital LLC now owns 22,033 shares of the pipeline company’s stock worth $1,194,000 after acquiring an additional 204 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC grew its stake in Enbridge by 2.9% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 7,383 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. The Goldman Sachs Group initiated coverage on Enbridge in a report on Wednesday, September 30th. They set a “neutral” rating and a $50.00 price objective on the stock. Scotiabank raised Enbridge to a “strong-buy” rating in a research report on Thursday, September 17th. Royal Bank Of Canada upped their target price on Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Wolfe Research set a $50.00 target price on Enbridge in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.88.
View Our Latest Analysis on ENB
Enbridge Trading Down 0.5%
NYSE:ENB opened at $48.94 on Wednesday. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market cap of $109.07 billion, a P/E ratio of 23.10, a P/E/G ratio of 5.91 and a beta of 0.59. The firm has a 50-day simple moving average of $48.23 and a 200-day simple moving average of $52.17.
Enbridge Company Profile
Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.
The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.
Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.
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