Buckingham Asset Management LLC raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.6% in the 1st quarter, Holdings Channel reports. The firm owned 19,306 shares of the pipeline company’s stock after purchasing an additional 1,531 shares during the quarter. Buckingham Asset Management LLC’s holdings in Enbridge were worth $700,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ENB. Reilly Financial Advisors LLC boosted its stake in shares of Enbridge by 16.0% in the fourth quarter. Reilly Financial Advisors LLC now owns 2,138 shares of the pipeline company’s stock valued at $66,000 after purchasing an additional 295 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Enbridge by 58.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares during the period. Clarus Wealth Advisors boosted its stake in shares of Enbridge by 27.5% in the first quarter. Clarus Wealth Advisors now owns 1,476 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 318 shares during the period. CWM LLC boosted its stake in shares of Enbridge by 14.5% in the first quarter. CWM LLC now owns 2,512 shares of the pipeline company’s stock valued at $91,000 after purchasing an additional 318 shares during the period. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Enbridge by 21.2% in the fourth quarter. Cornerstone Advisors Inc. now owns 1,850 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 323 shares during the period. 56.65% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Cynthia L. Hansen acquired 799 shares of Enbridge stock in a transaction on Friday, March 1st. The shares were purchased at an average cost of $49.13 per share, for a total transaction of $39,254.87. Following the purchase, the insider now directly owns 105,423 shares of the company’s stock, valued at approximately $5,179,431.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Albert Monaco acquired 7,806 shares of Enbridge stock in a transaction 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. Corporate insiders own 0.42% of the company’s stock.
NYSE ENB opened at $36.76 on Tuesday. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $37.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.58. The firm has a market cap of $74.17 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.48 and a beta of 0.69.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 15th. The pipeline company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.04. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. The firm had revenue of $8.75 billion for the quarter, compared to the consensus estimate of $12.27 billion. During the same period in the prior year, the firm posted $0.61 EPS. On average, research analysts expect that Enbridge Inc will post 1.71 EPS for the current fiscal year.
Several research analysts have recently weighed in on ENB shares. Wells Fargo & Co restated a “buy” rating on shares of Enbridge in a research note on Monday, February 18th. Scotia Howard Weill downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. Zacks Investment Research downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Bank of America restated a “buy” rating on shares of Enbridge in a research note on Tuesday, March 5th. Finally, National Bank Financial upgraded shares of Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Wednesday, March 20th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Enbridge currently has an average rating of “Buy” and a consensus target price of $46.46.
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Enbridge Company Profile
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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