May Hill Capital LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

May Hill Capital LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,606 shares of the pipeline company’s stock, valued at approximately $323,000.

Several other institutional investors also recently modified their holdings of ENB. Geode Capital Management LLC grew its holdings in Enbridge by 30.5% during the 4th quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock worth $571,389,000 after acquiring an additional 3,091,442 shares during the period. National Wealth Management Group LLC grew its stake in shares of Enbridge by 9.8% during the fourth quarter. National Wealth Management Group LLC now owns 12,347 shares of the pipeline company’s stock worth $524,000 after purchasing an additional 1,104 shares during the period. HighPoint Advisor Group LLC increased its holdings in Enbridge by 7.9% in the fourth quarter. HighPoint Advisor Group LLC now owns 31,264 shares of the pipeline company’s stock valued at $1,415,000 after purchasing an additional 2,296 shares during the last quarter. Summit Financial LLC acquired a new position in Enbridge in the fourth quarter valued at about $982,000. Finally, Wellington Management Group LLP boosted its holdings in Enbridge by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company’s stock worth $48,806,000 after buying an additional 7,890 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ENB shares. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Down 0.5 %

NYSE:ENB opened at $44.23 on Tuesday. The business’s 50-day simple moving average is $43.49 and its 200-day simple moving average is $42.53. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. 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 capitalization of $96.37 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.