Wealth Alliance Raises Holdings in Enbridge Inc. (NYSE:ENB)

Wealth Alliance increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.9% in the 4th quarter, HoldingsChannel reports. The fund owned 34,198 shares of the pipeline company’s stock after purchasing an additional 958 shares during the quarter. Wealth Alliance’s holdings in Enbridge were worth $1,232,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Enbridge by 98.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after buying an additional 815,850 shares during the period. Clarius Group LLC boosted its position in shares of Enbridge by 25.2% during the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after buying an additional 1,617 shares during the period. S.E.E.D. Planning Group LLC boosted its position in shares of Enbridge by 81.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock worth $8,272,000 after buying an additional 102,850 shares during the period. Private Trust Co. NA boosted its position in shares of Enbridge by 5.7% during the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock worth $318,000 after buying an additional 473 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after buying an additional 4,400,848 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 2.3 %

Enbridge stock opened at $32.97 on Wednesday. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock has a market cap of $70.09 billion, a PE ratio of 15.70, a P/E/G ratio of 3.17 and a beta of 0.84. The stock’s fifty day moving average is $35.05 and its two-hundred day moving average is $34.66.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. On average, sell-side analysts expect that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Enbridge Company 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.