Enbridge Inc. (NYSE:ENB) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,003,828 shares of the pipeline company’s stock after buying an additional 529,913 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Enbridge were worth $434,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $25,000. Baystate Wealth Management LLC increased its stake in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Enbridge in the fourth quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the first quarter valued at approximately $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $31,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB stock traded up $0.09 during trading hours on Monday, hitting $36.75. The stock had a trading volume of 948,281 shares, compared to its average volume of 5,437,056. The firm has a market capitalization of $80.02 billion, a PE ratio of 18.69, a PEG ratio of 3.46 and a beta of 0.92. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. The stock’s 50 day moving average is $35.83 and its 200 day moving average is $35.61. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. As a group, research analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

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.