Enbridge Inc. (NYSE:ENB) Position Increased by United Community Bank

United Community Bank boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,597 shares of the pipeline company’s stock after acquiring an additional 2,245 shares during the quarter. Enbridge accounts for 0.9% of United Community Bank’s portfolio, making the stock its 20th largest position. United Community Bank’s holdings in Enbridge were worth $2,401,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. apricus wealth LLC boosted its position in shares of Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after buying an additional 220 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares during the period. Armstrong Advisory Group Inc. increased its stake in Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 230 shares during the period. Eagle Bay Advisors LLC increased its stake in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its holdings in Enbridge by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 242 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Enbridge stock opened at $42.00 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $91.51 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.92 and a beta of 0.95. The stock’s 50 day moving average is $43.45 and its 200-day moving average is $42.10. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ENB shares. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.00.

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.