Larson Financial Group LLC Acquires 800 Shares of Enbridge Inc. (NYSE:ENB)

Larson Financial Group LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,449 shares of the pipeline company’s stock after purchasing an additional 800 shares during the quarter. Larson Financial Group LLC’s holdings in Enbridge were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Vanguard Group Inc. grew its stake in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Enbridge by 2.2% in the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after buying an additional 664,057 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Enbridge by 5.1% in the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after buying an additional 1,353,753 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 13.9% in the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after buying an additional 2,756,079 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus initiated coverage on shares of Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Trading Up 0.7 %

Shares of ENB opened at $35.67 on Thursday. The business’s 50-day moving average price is $35.12 and its 200-day moving average price is $34.77. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The stock has a market cap of $75.83 billion, a PE ratio of 16.99, a P/E/G ratio of 3.32 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. On average, equities analysts forecast that Enbridge Inc. will post 2.14 EPS 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.