Enbridge Inc. (NYSE:ENB) Shares Bought by Huntington National Bank

Huntington National Bank increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,106 shares of the pipeline company’s stock after buying an additional 639 shares during the quarter. Huntington National Bank’s holdings in Enbridge were worth $1,320,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ENB. Intrepid Capital Management Inc. acquired a new stake in Enbridge in the fourth quarter valued at approximately $235,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Enbridge by 1.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,924,463 shares of the pipeline company’s stock valued at $166,515,000 after purchasing an additional 71,219 shares during the period. May Hill Capital LLC acquired a new stake in Enbridge during the 4th quarter valued at $323,000. Geode Capital Management LLC increased its stake in Enbridge by 30.5% during the 4th quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock worth $571,389,000 after buying an additional 3,091,442 shares during the period. Finally, National Wealth Management Group LLC lifted its holdings in Enbridge by 9.8% in the 4th quarter. National Wealth Management Group LLC now owns 12,347 shares of the pipeline company’s stock worth $524,000 after buying an additional 1,104 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ENB shares. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $45.36 on Friday. The stock has a market capitalization of $98.84 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a one year low of $32.86 and a one year high of $46.12. The company’s 50-day simple moving average is $43.49 and its 200-day simple moving average is $42.59. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS 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 the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business posted $0.64 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Company Profile

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.