HF Advisory Group LLC Boosts Stake in Enbridge Inc $ENB

HF Advisory Group LLC lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 145.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,233 shares of the pipeline company’s stock after buying an additional 38,633 shares during the period. HF Advisory Group LLC’s holdings in Enbridge were worth $3,120,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Enbridge by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock worth $4,959,009,000 after acquiring an additional 1,892,491 shares during the period. TD Asset Management Inc increased its holdings in shares of Enbridge by 0.3% in the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after purchasing an additional 137,897 shares during the period. Scotia Capital Inc. increased its holdings in shares of Enbridge by 2.1% in the third quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock valued at $723,404,000 after purchasing an additional 300,391 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Enbridge by 38.7% in the second quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock worth $599,556,000 after purchasing an additional 3,687,334 shares during the last quarter. Finally, Amundi raised its stake in shares of Enbridge by 3.2% in the third quarter. Amundi now owns 9,638,460 shares of the pipeline company’s stock worth $479,706,000 after purchasing an additional 295,942 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.9%

Shares of NYSE:ENB opened at $53.67 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $55.44. The business has a 50 day moving average of $52.21 and a two-hundred day moving average of $49.34. The company has a market capitalization of $117.12 billion, a PE ratio of 23.33 and a beta of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter last year, the company earned $0.75 EPS. As a group, analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ENB. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada increased their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.