M&T Bank Corp Purchases 20,264 Shares of Enbridge Inc $ENB

M&T Bank Corp lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 604,092 shares of the pipeline company’s stock after purchasing an additional 20,264 shares during the period. M&T Bank Corp’s holdings in Enbridge were worth $28,894,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. IHT Wealth Management LLC lifted its stake in Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after acquiring an additional 213 shares in the last quarter. Blue Fin Capital Inc. lifted its position in shares of Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock valued at $767,000 after purchasing an additional 213 shares in the last quarter. Copperleaf Capital LLC boosted its holdings in Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 217 shares during the last quarter. PFG Advisors grew its position in Enbridge by 4.2% in the 3rd quarter. PFG Advisors now owns 5,479 shares of the pipeline company’s stock worth $276,000 after purchasing an additional 223 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Enbridge by 3.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,851 shares of the pipeline company’s stock valued at $328,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.2%

Shares of NYSE ENB opened at $54.71 on Tuesday. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $55.49. The business has a 50-day simple moving average of $53.55 and a two-hundred day simple moving average of $49.95. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The company has a market cap of $119.46 billion, a P/E ratio of 23.79 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the prior year, the company earned $0.75 EPS. Research analysts anticipate that Enbridge Inc will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ENB. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.