Fayez Sarofim & Co Purchases New Position in Enbridge Inc. (NYSE:ENB)

Fayez Sarofim & Co acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,807 shares of the pipeline company’s stock, valued at approximately $840,000.

Several other institutional investors have also recently made changes to their positions in the company. apricus wealth LLC increased its holdings in Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after buying an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares during the period. Armstrong Advisory Group Inc. grew its holdings in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the period. Wintrust Investments LLC increased its position in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its position in shares of Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after buying an additional 240 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

NYSE:ENB opened at $45.03 on Tuesday. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $46.12. The company has a market cap of $98.13 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $43.15 and its 200-day moving average price is $42.83.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the firm earned $0.64 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.