Adams Wealth Management Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Adams Wealth Management grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.9% in the 4th quarter, HoldingsChannel reports. The firm owned 17,254 shares of the pipeline company’s stock after acquiring an additional 1,973 shares during the quarter. Adams Wealth Management’s holdings in Enbridge were worth $732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. McIlrath & Eck LLC increased its holdings in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in shares of Enbridge during the 4th quarter valued at approximately $29,000. Wintrust Investments LLC increased its stake in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. bought a new stake in shares of Enbridge in the 4th quarter worth approximately $42,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE ENB opened at $45.32 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a fifty-two week low of $33.35 and a fifty-two week high of $46.12. The stock has a market cap of $98.76 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The stock has a fifty day moving average of $43.15 and a 200-day moving average of $42.75.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $4.78 billion. During the same quarter last year, the company earned $0.64 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ENB. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.