Finward Bancorp Purchases New Position in Enbridge Inc. (NYSE:ENB)

Finward Bancorp bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,885 shares of the pipeline company's stock, valued at approximately $419,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Morse Asset Management Inc bought a new stake in shares of Enbridge in the 3rd quarter valued at about $106,000. Barclays PLC boosted its stake in shares of Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company's stock valued at $23,717,000 after purchasing an additional 44,675 shares during the period. Coldstream Capital Management Inc. purchased a new position in shares of Enbridge in the third quarter worth $203,000. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after buying an additional 295 shares during the last quarter. Finally, Passumpsic Savings Bank increased its position in shares of Enbridge by 2.4% in the third quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company's stock valued at $470,000 after acquiring an additional 276 shares during the period. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ENB. Citigroup initiated coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, CIBC reiterated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Up 1.7 %

Shares of ENB stock traded up $0.75 during mid-day trading on Friday, reaching $45.32. 4,781,000 shares of the company's stock traded hands, compared to its average volume of 4,391,070. The company's 50-day moving average price is $43.15 and its 200-day moving average price is $42.78. The company has a market cap of $98.76 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.92 and a beta of 0.80. 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 Inc. has a 12 month low of $33.92 and a 12 month high of $46.12.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during 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 quarter last year, the firm earned $0.64 earnings per share. On average, equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Company 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.