Adell Harriman & Carpenter Inc. Has $5.01 Million Stock Position in Enbridge Inc $ENB

Adell Harriman & Carpenter Inc. lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 110,456 shares of the pipeline company’s stock after selling 1,160 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Enbridge were worth $5,006,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ENB. Goldman Sachs Group Inc. boosted its stake in Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares during the period. Nuveen LLC bought a new stake in Enbridge during the first quarter worth about $208,490,000. Canada Pension Plan Investment Board lifted its stake in Enbridge by 39.7% during the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock worth $421,675,000 after purchasing an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd bought a new stake in Enbridge during the first quarter worth about $77,976,000. Finally, JPMorgan Chase & Co. lifted its stake in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

ENB stock opened at $46.64 on Thursday. The stock’s 50 day simple moving average is $48.42 and its 200 day simple moving average is $46.66. The stock has a market capitalization of $101.70 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 4.27 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the business posted $0.58 EPS. As a group, research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.50.

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.