Verdence Capital Advisors LLC Boosts Position in Enbridge Inc. (NYSE:ENB)

Verdence Capital Advisors LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,942 shares of the pipeline company’s stock after purchasing an additional 282 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Enbridge were worth $1,864,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. apricus wealth LLC boosted its position in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after acquiring an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. lifted its position in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 230 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in shares of Enbridge by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 242 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ENB shares. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $42.60 on Thursday. The firm has a market capitalization of $92.82 billion, a P/E ratio of 24.76, a PEG ratio of 3.92 and a beta of 0.94. The stock has a fifty day moving average price of $43.45 and a 200 day moving average price of $42.07. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.