Advisors Asset Management Inc. Purchases 20,361 Shares of Enbridge Inc. (NYSE:ENB)

Advisors Asset Management Inc. grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 16.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,118 shares of the pipeline company’s stock after buying an additional 20,361 shares during the quarter. Advisors Asset Management Inc.’s holdings in Enbridge were worth $6,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC grew its position in Enbridge by 39.6% during the third quarter. Natixis Advisors LLC now owns 193,042 shares of the pipeline company’s stock valued at $7,839,000 after buying an additional 54,737 shares during the period. Thrivent Financial for Lutherans boosted its stake in Enbridge by 23.4% in the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock valued at $1,895,000 after acquiring an additional 8,848 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of Enbridge by 5.5% during the 3rd quarter. Prospera Financial Services Inc now owns 32,513 shares of the pipeline company’s stock worth $1,321,000 after purchasing an additional 1,703 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Enbridge by 142.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 14,134 shares of the pipeline company’s stock worth $574,000 after purchasing an additional 8,308 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in Enbridge by 17.9% in the third quarter. Banque Cantonale Vaudoise now owns 7,899 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 1,202 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $43.73 on Thursday. The business has a fifty day moving average price of $43.45 and a 200-day moving average price of $42.30. The firm has a market capitalization of $95.28 billion, a P/E ratio of 25.42, a PEG ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78.

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

Analyst Ratings Changes

A number of analysts have issued reports on ENB shares. Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.