TRU Independence Asset Management 2 LLC Buys New Position in Enbridge Inc. (NYSE:ENB)


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TRU Independence Asset Management 2 LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,104 shares of the pipeline company’s stock, valued at approximately $35,000.

A number of other institutional investors have also recently made changes to their positions in ENB. Addenda Capital Inc. grew its stake in Enbridge by 1.1% in the fourth quarter. Addenda Capital Inc. now owns 2,011,579 shares of the pipeline company’s stock valued at $64,281,000 after purchasing an additional 21,074 shares in the last quarter. Archford Capital Strategies LLC grew its stake in Enbridge by 5.7% in the fourth quarter. Archford Capital Strategies LLC now owns 24,041 shares of the pipeline company’s stock valued at $802,000 after purchasing an additional 1,292 shares in the last quarter. Latitude Advisors LLC bought a new position in Enbridge in the fourth quarter valued at approximately $1,024,000. Wealth Alliance grew its stake in Enbridge by 5.1% in the third quarter. Wealth Alliance now owns 15,464 shares of the pipeline company’s stock valued at $452,000 after purchasing an additional 753 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in Enbridge by 61.3% in the fourth quarter. Laurel Wealth Advisors LLC now owns 59,432 shares of the pipeline company’s stock valued at $1,901,000 after purchasing an additional 22,587 shares in the last quarter. 51.11% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on ENB. Stifel Nicolaus reduced their target price on Enbridge from $58.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, February 16th. TD Securities lifted their target price on Enbridge from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, February 16th. CIBC reduced their price target on Enbridge from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, February 16th. Credit Suisse Group boosted their price target on Enbridge from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, January 29th. Finally, National Bank Financial restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, January 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $52.36.

Enbridge stock opened at $36.74 on Thursday. The stock has a market capitalization of $74.42 billion, a P/E ratio of 51.75, a price-to-earnings-growth ratio of 2.48 and a beta of 0.82. Enbridge Inc. has a 52 week low of $26.97 and a 52 week high of $37.31. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.44 and a current ratio of 0.55. The stock has a fifty day moving average of $35.86 and a 200-day moving average of $32.67.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, February 11th. The pipeline company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.10. The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $10.04 billion. Enbridge had a return on equity of 8.50% and a net margin of 5.57%. During the same quarter in the previous year, the company posted $0.61 EPS. On average, research analysts forecast that Enbridge Inc. will post 1.91 earnings per share for the current year.

Enbridge Profile

Enbridge Inc 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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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