Ted Buchan & Co Acquires 4,163 Shares of Enbridge Inc. (NYSE:ENB)

Ted Buchan & Co increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 52,962 shares of the pipeline company’s stock after purchasing an additional 4,163 shares during the quarter. Enbridge comprises 1.1% of Ted Buchan & Co’s holdings, making the stock its 27th biggest position. Ted Buchan & Co’s holdings in Enbridge were worth $2,247,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Enbridge by 734.9% during the third quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after purchasing an additional 47,063 shares during the period. Verition Fund Management LLC boosted its position in Enbridge by 13.5% in the third quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company’s stock valued at $310,000 after buying an additional 910 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Enbridge by 1.7% in the third quarter. HighTower Advisors LLC now owns 520,422 shares of the pipeline company’s stock valued at $21,115,000 after acquiring an additional 8,902 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Enbridge by 431.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,057,996 shares of the pipeline company’s stock worth $42,966,000 after acquiring an additional 858,932 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Enbridge by 7.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 59,331 shares of the pipeline company’s stock worth $2,409,000 after acquiring an additional 3,973 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB stock opened at $43.34 on Friday. The stock has a market cap of $94.44 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The stock has a 50-day moving average of $43.45 and a 200-day moving average of $42.61. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a one year low of $32.86 and a one year high of $46.12.

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

Analysts Set New Price Targets

A number of research firms have commented on ENB. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada boosted 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. Finally, Citigroup started coverage on Enbridge in a report on Friday. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price 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.