Enbridge Inc. (NYSE:ENB) Stake Raised by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,329 shares of the pipeline company’s stock after buying an additional 1,463 shares during the period. Parallel Advisors LLC’s holdings in Enbridge were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ENB. SouthState Corp raised its holdings in Enbridge by 18.9% during the fourth quarter. SouthState Corp now owns 2,720 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 433 shares in the last quarter. Gold Investment Management Ltd. raised its holdings in Enbridge by 1.3% during the fourth quarter. Gold Investment Management Ltd. now owns 68,433 shares of the pipeline company’s stock worth $2,904,000 after purchasing an additional 909 shares in the last quarter. SlateStone Wealth LLC raised its holdings in Enbridge by 3.8% during the fourth quarter. SlateStone Wealth LLC now owns 17,767 shares of the pipeline company’s stock worth $754,000 after purchasing an additional 644 shares in the last quarter. GWN Securities Inc. bought a new stake in Enbridge during the fourth quarter worth approximately $229,000. Finally, Corient Private Wealth LLC raised its holdings in Enbridge by 11.5% during the fourth quarter. Corient Private Wealth LLC now owns 245,819 shares of the pipeline company’s stock worth $10,430,000 after purchasing an additional 25,289 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.7 %

Enbridge stock opened at $43.73 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market cap of $95.28 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78. The firm’s 50 day moving average price is $43.45 and its two-hundred day moving average price is $42.30.

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

Analyst Ratings Changes

ENB has been the topic of several recent analyst reports. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.