Waratah Capital Advisors Ltd. Purchases New Holdings in Enbridge Inc (ENB)
Waratah Capital Advisors Ltd. purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, HoldingsChannel.com reports. The firm purchased 34,938 shares of the pipeline company’s stock, valued at approximately $1,265,000.
Other large investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in Enbridge by 2.4% in the 4th quarter. AE Wealth Management LLC now owns 31,348 shares of the pipeline company’s stock valued at $974,000 after acquiring an additional 740 shares during the period. Stock Yards Bank & Trust Co. boosted its stake in Enbridge by 25.7% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 9,448 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 1,930 shares during the last quarter. Morgan Stanley boosted its stake in Enbridge by 11.0% during the 3rd quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock worth $154,592,000 after purchasing an additional 472,660 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in Enbridge during the 4th quarter worth $3,328,000. Finally, Mutual Advisors LLC acquired a new stake in Enbridge during the 4th quarter worth $478,000. Institutional investors and hedge funds own 56.95% of the company’s stock.
Several equities research analysts have issued reports on the stock. Credit Suisse Group cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Barclays assumed coverage on shares of Enbridge in a research note on Tuesday, April 9th. They set an “overweight” rating on the stock. Industrial Alliance Securities reaffirmed a “buy” rating on shares of Enbridge in a research note on Monday, April 8th. ValuEngine cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, National Bank Financial raised shares of Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $46.46.
Shares of NYSE ENB traded up $0.71 during trading on Thursday, hitting $37.15. 1,694,577 shares of the company were exchanged, compared to its average volume of 3,535,107. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $37.96. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.92. The firm has a market cap of $73.77 billion, a PE ratio of 18.12, a P/E/G ratio of 2.51 and a beta of 0.69.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to analyst estimates of $12.96 billion. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. During the same period in the previous year, the firm earned $0.82 EPS. Research analysts expect that Enbridge Inc will post 1.71 EPS for the current year.
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Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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