Osher Van de Voorde Investment Management increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,806 shares of the pipeline company’s stock after purchasing an additional 45,982 shares during the period. Enbridge accounts for 3.8% of Osher Van de Voorde Investment Management’s holdings, making the stock its 18th biggest holding. Osher Van de Voorde Investment Management’s holdings in Enbridge were worth $7,422,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Reilly Financial Advisors LLC raised its holdings in shares of Enbridge by 16.0% during the 4th quarter. Reilly Financial Advisors LLC now owns 2,138 shares of the pipeline company’s stock worth $66,000 after acquiring an additional 295 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Enbridge by 58.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in shares of Enbridge by 21.2% during the 4th quarter. Cornerstone Advisors Inc. now owns 1,850 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 323 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. raised its holdings in shares of Enbridge by 1.1% during the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 31,604 shares of the pipeline company’s stock worth $982,000 after acquiring an additional 355 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Enbridge by 4.1% during the 4th quarter. Checchi Capital Advisers LLC now owns 9,934 shares of the pipeline company’s stock worth $309,000 after acquiring an additional 393 shares in the last quarter. 55.98% of the stock is currently owned by institutional investors.
ENB has been the topic of several recent research reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Scotia Howard Weill cut Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, March 4th. Zacks Investment Research cut Enbridge from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. Finally, National Bank Financial raised Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Enbridge currently has a consensus rating of “Buy” and a consensus target price of $46.46.
NYSE:ENB opened at $36.61 on Friday. Enbridge Inc has a fifty-two week low of $28.82 and a fifty-two week high of $37.69. The firm has a market cap of $74.41 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.36 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.58.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 15th. The pipeline company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Enbridge had a return on equity of 8.72% and a net margin of 5.64%. The company had revenue of $8.75 billion for the quarter, compared to analyst estimates of $12.27 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. Sell-side analysts forecast that Enbridge Inc will post 1.73 EPS for the current year.
In related news, insider Cynthia L. Hansen purchased 801 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $43.93 per share, for a total transaction of $35,187.93. Following the acquisition, the insider now owns 105,423 shares of the company’s stock, valued at approximately $4,631,232.39. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Albert Monaco purchased 7,806 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $49.33 per share, for a total transaction of $385,069.98. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,406 shares of company stock worth $459,513 in the last 90 days. 0.48% of the stock is currently owned by insiders.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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