HighTower Advisors LLC Has $26.76 Million Stake in Enbridge Inc. (NYSE:ENB)

HighTower Advisors LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 21.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 630,625 shares of the pipeline company's stock after buying an additional 110,203 shares during the quarter. HighTower Advisors LLC's holdings in Enbridge were worth $26,757,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new position in shares of Enbridge in the fourth quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in shares of Enbridge in the third quarter valued at $37,000. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Enbridge in the fourth quarter valued at $42,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ENB shares. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, CIBC reiterated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

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Enbridge Price Performance

NYSE:ENB traded up $0.31 during trading hours on Friday, reaching $42.86. The company had a trading volume of 2,041,656 shares, compared to its average volume of 4,301,787. The stock has a 50-day moving average of $43.45 and a two-hundred day moving average of $42.21. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The firm has a market capitalization of $93.38 billion, a PE ratio of 24.92, a PEG 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 announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the business earned $0.64 earnings per share. Analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Profile

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.