Steward Partners Investment Advisory LLC Buys 23,079 Shares of Enbridge Inc. (NYSE:ENB)

Steward Partners Investment Advisory LLC boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 33.2% during the fourth quarter, Holdings Channel reports. The firm owned 92,526 shares of the pipeline company’s stock after purchasing an additional 23,079 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Enbridge were worth $3,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new stake in Enbridge during the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Enbridge during the third quarter valued at approximately $37,000. Dixon Mitchell Investment Counsel Inc. increased its holdings in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in Enbridge during the fourth quarter valued at approximately $42,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $41.64 on Friday. The firm has a fifty day moving average price of $43.45 and a 200-day moving average price of $42.06. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market cap of $90.73 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on ENB shares. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Company 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.