Enbridge Inc $ENB Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 32.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,769 shares of the pipeline company’s stock after purchasing an additional 16,291 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Enbridge were worth $3,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Enbridge by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock worth $4,959,009,000 after purchasing an additional 1,892,491 shares during the last quarter. TD Asset Management Inc grew its position in Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after acquiring an additional 137,897 shares in the last quarter. Scotia Capital Inc. grew its position in Enbridge by 2.1% in the 3rd quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock valued at $723,404,000 after acquiring an additional 300,391 shares in the last quarter. Amundi grew its position in Enbridge by 3.2% in the 3rd quarter. Amundi now owns 9,638,460 shares of the pipeline company’s stock valued at $479,706,000 after acquiring an additional 295,942 shares in the last quarter. Finally, Bank of Nova Scotia grew its position in Enbridge by 118.0% in the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after acquiring an additional 5,157,030 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Performance

Shares of Enbridge stock opened at $52.48 on Tuesday. Enbridge Inc has a one year low of $43.59 and a one year high of $55.44. The company has a market cap of $114.58 billion, a PE ratio of 22.82 and a beta of 0.63. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63. The business has a 50-day simple moving average of $53.39 and a 200-day simple moving average of $49.82.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the company posted $0.75 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post 2.22 EPS for the current fiscal year.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.