Simplicity Solutions LLC Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

Simplicity Solutions LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,512 shares of the pipeline company’s stock after buying an additional 892 shares during the quarter. Simplicity Solutions LLC’s holdings in Enbridge were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENB. American Century Companies Inc. grew its holdings in shares of Enbridge by 6.9% during the first quarter. American Century Companies Inc. now owns 49,136 shares of the pipeline company’s stock worth $2,262,000 after buying an additional 3,178 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Enbridge by 47.5% during the first quarter. BlackRock Inc. now owns 1,585,598 shares of the pipeline company’s stock worth $73,081,000 after buying an additional 510,865 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Enbridge by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,647,982 shares of the pipeline company’s stock valued at $75,955,000 after purchasing an additional 112,553 shares in the last quarter. Blair William & Co. IL boosted its holdings in Enbridge by 3.4% in the 1st quarter. Blair William & Co. IL now owns 149,644 shares of the pipeline company’s stock valued at $6,897,000 after purchasing an additional 4,883 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Enbridge by 0.3% in the 1st quarter. Sei Investments Co. now owns 316,801 shares of the pipeline company’s stock valued at $14,600,000 after purchasing an additional 968 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $33.33 on Thursday. The firm has a 50 day moving average of $35.03 and a 200-day moving average of $34.65. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a market cap of $70.85 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 3.17 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, equities analysts expect that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average target price of $55.20.

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.