AssuredPartners Investment Advisors LLC Makes New $658,000 Investment in Enbridge Inc. (NYSE:ENB)

AssuredPartners Investment Advisors LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,508 shares of the pipeline company’s stock, valued at approximately $658,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Korea Investment CORP increased its position in shares of Enbridge by 48.5% during the fourth quarter. Korea Investment CORP now owns 1,480,533 shares of the pipeline company’s stock worth $62,806,000 after acquiring an additional 483,765 shares during the period. Hardin Capital Partners LLC increased its holdings in Enbridge by 54.7% during the 4th quarter. Hardin Capital Partners LLC now owns 9,301 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 3,289 shares during the period. TrueMark Investments LLC raised its position in Enbridge by 66.0% in the 4th quarter. TrueMark Investments LLC now owns 185,621 shares of the pipeline company’s stock valued at $7,876,000 after purchasing an additional 73,825 shares in the last quarter. Mufg Securities Canada LTD. boosted its stake in shares of Enbridge by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 3,325,954 shares of the pipeline company’s stock valued at $141,070,000 after buying an additional 1,393,449 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $62,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ENB shares. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

Shares of ENB opened at $44.38 on Friday. The company has a market capitalization of $96.72 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 50-day simple moving average of $43.49 and a 200-day simple moving average of $42.45. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results 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 business had revenue of $11.59 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $0.64 earnings per share. On average, equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.