Brookstone Capital Management Acquires 22,137 Shares of Enbridge Inc $ENB

Brookstone Capital Management lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 43.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,316 shares of the pipeline company’s stock after buying an additional 22,137 shares during the period. Brookstone Capital Management’s holdings in Enbridge were worth $3,507,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Tsfg LLC increased its position in shares of Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares during the last quarter. Triumph Capital Management acquired a new position in Enbridge during the third quarter valued at approximately $26,000. Highline Wealth Partners LLC boosted its position in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the last quarter. Turning Point Benefit Group Inc. bought a new position in Enbridge in the third quarter valued at approximately $28,000. Finally, True Wealth Design LLC grew its stake in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $53.67 on Thursday. 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 business’s 50 day moving average price is $52.21 and its two-hundred day moving average price is $49.34. The company has a market cap of $117.12 billion, a PE ratio of 23.33 and a beta of 0.63. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $55.44.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The company had revenue of $17.18 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same period last year, the firm posted $0.75 earnings per share. On average, analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ENB shares. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge 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 stock. According to MarketBeat, the stock has an average 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.