Baystate Wealth Management LLC Purchases 644 Shares of Enbridge Inc. (NYSE:ENB)

Baystate Wealth Management LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 836.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 721 shares of the pipeline company’s stock after buying an additional 644 shares during the period. Baystate Wealth Management LLC’s holdings in Enbridge were worth $26,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Enbridge in the fourth quarter worth approximately $25,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Enbridge in the second quarter worth approximately $26,000. Tyler Stone Wealth Management purchased a new stake in shares of Enbridge in the second quarter worth approximately $26,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Enbridge in the first quarter worth approximately $27,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 1.1 %

Enbridge stock opened at $34.18 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock has a market capitalization of $72.66 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.21 and a beta of 0.84. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The business has a fifty day moving average price of $35.10 and a 200-day moving average price of $34.66.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business 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%. Equities research analysts forecast that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.