TRU Independence Asset Management 2 LLC Purchases Shares of 1,104 Enbridge Inc. (NYSE:ENB)

TRU Independence Asset Management 2 LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel reports. The firm purchased 1,104 shares of the pipeline company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sippican Capital Advisors increased its holdings in shares of Enbridge by 2.3% in the fourth quarter. Sippican Capital Advisors now owns 13,370 shares of the pipeline company’s stock worth $428,000 after buying an additional 303 shares during the period. TCTC Holdings LLC increased its holdings in shares of Enbridge by 6.4% in the fourth quarter. TCTC Holdings LLC now owns 5,222 shares of the pipeline company’s stock worth $167,000 after buying an additional 314 shares during the period. Clear Perspective Advisors LLC increased its holdings in shares of Enbridge by 1.4% in the fourth quarter. Clear Perspective Advisors LLC now owns 23,012 shares of the pipeline company’s stock worth $736,000 after buying an additional 324 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Enbridge by 0.3% in the fourth quarter. Moors & Cabot Inc. now owns 131,111 shares of the pipeline company’s stock worth $4,193,000 after buying an additional 334 shares during the period. Finally, First PREMIER Bank increased its holdings in shares of Enbridge by 1.8% in the fourth quarter. First PREMIER Bank now owns 19,545 shares of the pipeline company’s stock worth $624,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 51.11% of the company’s stock.

Shares of ENB opened at $36.74 on Thursday. The firm has a market cap of $74.42 billion, a PE ratio of 51.75, a P/E/G ratio of 2.48 and a beta of 0.82. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $35.86 and a two-hundred day simple moving average of $32.67. Enbridge Inc. has a 1-year low of $26.97 and a 1-year high of $37.31.

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

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

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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