Centaurus Financial Inc. Raises Stake in Enbridge Inc $ENB

Centaurus Financial Inc. increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 66.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,434 shares of the pipeline company’s stock after buying an additional 9,770 shares during the period. Centaurus Financial Inc.’s holdings in Enbridge were worth $1,233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ENB. Westwood Holdings Group Inc. grew its holdings in Enbridge by 83.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after buying an additional 1,044,093 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Enbridge by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after acquiring an additional 221,976 shares during the period. Trajan Wealth LLC boosted its position in shares of Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after acquiring an additional 106,784 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after acquiring an additional 24,165 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its holdings in Enbridge by 5.7% in the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company’s stock valued at $48,026,000 after purchasing an additional 51,645 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ENB shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Royal Bank Of Canada increased their target price on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, Citigroup reiterated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Price Performance

ENB stock opened at $54.01 on Friday. The firm has a market cap of $117.85 billion, a P/E ratio of 23.48 and a beta of 0.67. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $54.70. The stock has a 50-day simple moving average of $50.87 and a 200-day simple moving average of $48.97.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share 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 firm had revenue of $17.18 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the prior year, the business earned $0.75 EPS. On average, equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Company 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.