Premier Fund Managers Ltd Buys 50,000 Shares of Enbridge Inc (NYSE:ENB)

Premier Fund Managers Ltd raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,800 shares of the pipeline company’s stock after purchasing an additional 50,000 shares during the period. Premier Fund Managers Ltd’s holdings in Enbridge were worth $14,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Garde Capital Inc. bought a new stake in Enbridge in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the first quarter valued at $28,000. GeoWealth Management LLC increased its stake in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after buying an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of Enbridge during the fourth quarter valued at about $39,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ENB shares. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Down 0.7%

Enbridge stock opened at $44.65 on Tuesday. Enbridge Inc has a fifty-two week low of $36.50 and a fifty-two week high of $47.44. The stock has a market cap of $97.35 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 4.19 and a beta of 0.79. The firm’s 50-day simple moving average is $45.41 and its 200 day simple moving average is $44.52. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

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.