Enbridge Inc. (NYSE:ENB) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,512 shares of the pipeline company’s stock after acquiring an additional 892 shares during the quarter. Bleakley Financial Group LLC’s holdings in Enbridge were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ENB. Coppell Advisory Solutions Corp. acquired a new position in Enbridge in the fourth quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. acquired a new position in Enbridge in the fourth quarter worth approximately $25,000. Coppell Advisory Solutions LLC acquired a new position in Enbridge in the second quarter worth approximately $26,000. Tyler Stone Wealth Management acquired a new position in Enbridge in the second quarter worth approximately $26,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Enbridge in the first quarter worth approximately $27,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Trading Down 1.1 %

Enbridge stock opened at $34.18 on Friday. The company has a 50 day moving average price of $35.10 and a 200 day moving average price of $34.65. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The firm has a market capitalization of $72.66 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 3.25 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Research analysts forecast that Enbridge Inc. will post 2.13 EPS for the current year.

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.