PCJ Investment Counsel Ltd. boosted its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 168.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 216,630 shares of the pipeline company's stock after acquiring an additional 135,962 shares during the quarter. Enbridge makes up approximately 3.1% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 8th biggest holding. PCJ Investment Counsel Ltd.'s holdings in Enbridge were worth $9,183,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in ENB. apricus wealth LLC boosted its stake in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after purchasing an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after purchasing an additional 230 shares during the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after purchasing an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock valued at $297,000 after purchasing an additional 242 shares during the last quarter. Institutional investors own 54.60% of the company's stock.
Enbridge Trading Up 1.0 %
Enbridge stock traded up $0.40 during midday trading on Friday, hitting $42.00. 3,144,296 shares of the stock were exchanged, compared to its average volume of 4,411,846. The company has a fifty day simple moving average of $43.45 and a two-hundred day simple moving average of $42.13. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The stock has a market capitalization of $91.51 billion, a PE ratio of 24.42, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.64 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently issued reports on ENB. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $67.00.
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About Enbridge
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Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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