Raymond James & Associates Buys 113,016 Shares of Enbridge Inc (ENB)

Raymond James & Associates increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,107,101 shares of the pipeline company’s stock after buying an additional 113,016 shares during the quarter. Raymond James & Associates owned about 0.07% of Enbridge worth $43,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Spectrum Management Group Inc. bought a new position in Enbridge during the 3rd quarter worth $113,000. Fieldpoint Private Securities LLC bought a new position in Enbridge during the 3rd quarter worth $130,000. Taylor Hoffman Wealth Management bought a new position in Enbridge during the 4th quarter worth $140,000. Valeo Financial Advisors LLC bought a new position in Enbridge during the 3rd quarter worth $146,000. Finally, Field & Main Bank bought a new position in Enbridge during the 4th quarter worth $149,000. Hedge funds and other institutional investors own 65.08% of the company’s stock.

Enbridge Inc (ENB) opened at $32.89 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.63. Enbridge Inc has a 12-month low of $31.19 and a 12-month high of $42.92. The stock has a market capitalization of $55,364.91, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.37 and a beta of 0.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.39 billion. sell-side analysts expect that Enbridge Inc will post 1.77 earnings per share for the current fiscal year.

In other Enbridge news, Director Michael E. J. Phelps sold 18,054 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total transaction of $613,836.00. Following the completion of the transaction, the director now owns 56,245 shares in the company, valued at approximately $1,912,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ENB has been the subject of a number of recent research reports. Canaccord Genuity restated a “buy” rating and set a $54.00 price objective on shares of Enbridge in a research note on Thursday, November 30th. Morgan Stanley lowered their price objective on Enbridge from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th. Bank of America initiated coverage on Enbridge in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Finally, Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average target price of $51.25.

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Enbridge Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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