NewEdge Advisors LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

NewEdge Advisors LLC raised its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 360,892 shares of the pipeline company's stock after purchasing an additional 55,264 shares during the period. NewEdge Advisors LLC's holdings in Enbridge were worth $15,313,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC grew its holdings in Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after acquiring an additional 7,986 shares in the last quarter. Aviso Financial Inc. boosted its position in Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock valued at $60,152,000 after acquiring an additional 58,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after acquiring an additional 536,818 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock valued at $26,808,000 after purchasing an additional 49,800 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of ENB stock traded up $0.75 during mid-day trading on Friday, reaching $45.32. The stock had a trading volume of 4,781,000 shares, compared to its average volume of 4,391,070. 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 Inc. has a 1-year low of $33.92 and a 1-year high of $46.12. The firm has a market cap of $98.76 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 3.92 and a beta of 0.80. The business's fifty day moving average is $43.15 and its 200-day moving average is $42.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The business 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 in the prior year, the firm earned $0.64 EPS. On average, research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENB. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, CIBC reaffirmed 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 four have given a buy rating to the company's stock. According to MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and an average price target of $67.00.

About Enbridge

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.