Simon Quick Advisors LLC Purchases Shares of 6,845 Enbridge Inc $ENB

Simon Quick Advisors LLC acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,845 shares of the pipeline company’s stock, valued at approximately $310,000.

A number of other large investors have also recently made changes to their positions in the stock. Dagco Inc. purchased a new stake in shares of Enbridge in the first quarter worth $25,000. Whipplewood Advisors LLC lifted its stake in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after buying an additional 308 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Enbridge in the 1st quarter worth $28,000. Accent Capital Management LLC purchased a new stake in Enbridge in the 1st quarter worth $30,000. Finally, FNY Investment Advisers LLC bought a new stake in Enbridge during the second quarter valued at about $36,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB stock opened at $46.60 on Tuesday. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The firm has a market capitalization of $101.64 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 4.31 and a beta of 0.78. The company has a fifty day simple moving average of $48.35 and a two-hundred day simple moving average of $46.72. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the prior year, the company earned $0.58 EPS. Analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ENB. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Argus boosted their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Scotiabank restated a “sector perform” rating on shares of Enbridge in a research report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus price target of $60.50.

About Enbridge

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.