Sequoia Financial Advisors LLC Purchases 18,806 Shares of Enbridge Inc. (NYSE:ENB)

Sequoia Financial Advisors LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 131.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,118 shares of the pipeline company’s stock after purchasing an additional 18,806 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Enbridge were worth $1,193,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Miller Howard Investments Inc. NY raised its stake in Enbridge by 4.7% during the 4th quarter. Miller Howard Investments Inc. NY now owns 701,540 shares of the pipeline company’s stock worth $25,269,000 after buying an additional 31,360 shares during the period. HBK Sorce Advisory LLC raised its holdings in shares of Enbridge by 10.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,769 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 1,116 shares during the last quarter. Heronetta Management L.P. lifted its position in shares of Enbridge by 2.3% in the fourth quarter. Heronetta Management L.P. now owns 185,374 shares of the pipeline company’s stock worth $6,677,000 after purchasing an additional 4,184 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Enbridge by 5.7% during the fourth quarter. Bleakley Financial Group LLC now owns 16,512 shares of the pipeline company’s stock worth $595,000 after purchasing an additional 892 shares during the last quarter. Finally, Callahan Advisors LLC grew its position in Enbridge by 19.6% in the fourth quarter. Callahan Advisors LLC now owns 64,811 shares of the pipeline company’s stock valued at $2,334,000 after purchasing an additional 10,599 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 1.1 %

Enbridge stock opened at $34.18 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $35.10 and its two-hundred day moving average price is $34.65. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The stock has a market cap of $72.66 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.25 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ENB. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.20.

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.