Korea Investment CORP grew its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 48.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,480,533 shares of the pipeline company's stock after buying an additional 483,765 shares during the quarter. Korea Investment CORP owned 0.07% of Enbridge worth $62,806,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC lifted its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT bought a new stake in Enbridge in the fourth quarter worth $29,000. Wintrust Investments LLC boosted its stake in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its position in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in shares of Enbridge in the 4th quarter worth about $42,000. Institutional investors own 54.60% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ENB. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Finally, CIBC restated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.
Read Our Latest Analysis on ENB
Enbridge Trading Down 0.5 %
Shares of NYSE ENB traded down $0.24 during trading hours on Monday, reaching $44.23. The stock had a trading volume of 3,803,264 shares, compared to its average volume of 4,408,560. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $45.78. The firm has a market cap of $96.37 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 3.92 and a beta of 0.95. The business's fifty day moving average price is $43.49 and its two-hundred day moving average price is $42.53. The company has a current ratio of 0.55, a quick ratio of 0.54 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm earned $0.64 earnings per share. Analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.
Enbridge Profile
(
Free Report)
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.
Further Reading
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
