Ledyard National Bank Acquires New Holdings in Enbridge Inc. (NYSE:ENB)

Ledyard National Bank acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 7,045 shares of the pipeline company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Addenda Capital Inc. boosted its position in Enbridge by 1.1% during the 4th quarter. Addenda Capital Inc. now owns 2,011,579 shares of the pipeline company’s stock worth $64,281,000 after acquiring an additional 21,074 shares during the last quarter. Archford Capital Strategies LLC boosted its position in Enbridge by 5.7% during the 4th quarter. Archford Capital Strategies LLC now owns 24,041 shares of the pipeline company’s stock worth $802,000 after acquiring an additional 1,292 shares during the last quarter. Foundations Investment Advisors LLC boosted its position in Enbridge by 35.2% during the 1st quarter. Foundations Investment Advisors LLC now owns 89,672 shares of the pipeline company’s stock worth $3,295,000 after acquiring an additional 23,351 shares during the last quarter. Latitude Advisors LLC acquired a new position in Enbridge during the 4th quarter worth approximately $1,024,000. Finally, First Bank & Trust boosted its position in Enbridge by 37.8% during the 1st quarter. First Bank & Trust now owns 59,696 shares of the pipeline company’s stock worth $2,172,000 after acquiring an additional 16,369 shares during the last quarter. Institutional investors and hedge funds own 51.11% of the company’s stock.

ENB has been the subject of a number of recent research reports. National Bank Financial reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, January 27th. CIBC dropped their price objective on Enbridge from $53.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 16th. TD Securities upped their price objective on Enbridge from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, February 16th. Stifel Nicolaus dropped their price objective on Enbridge from $58.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, February 16th. Finally, Credit Suisse Group increased their price target on Enbridge from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, January 29th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $52.00.

Shares of NYSE ENB opened at $38.77 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.55 and a quick ratio of 0.44. The stock’s fifty day moving average price is $37.01 and its two-hundred day moving average price is $33.67. Enbridge Inc. has a one year low of $26.97 and a one year high of $38.94. The firm has a market cap of $78.53 billion, a price-to-earnings ratio of 54.61, a P/E/G ratio of 2.48 and a beta of 0.82.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, February 11th. The pipeline company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.10. Enbridge had a return on equity of 8.50% and a net margin of 5.57%. The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $10.04 billion. During the same period in the prior year, the firm posted $0.61 EPS. On average, equities analysts anticipate that Enbridge Inc. will post 1.91 earnings per share for the current fiscal year.

Enbridge Company 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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