HighPoint Advisor Group LLC Has $1.42 Million Holdings in Enbridge Inc. (NYSE:ENB)

HighPoint Advisor Group LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,264 shares of the pipeline company’s stock after purchasing an additional 2,296 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Enbridge were worth $1,415,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. McIlrath & Eck LLC boosted its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter valued at about $29,000. Wintrust Investments LLC raised its holdings in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 580 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in Enbridge in the fourth quarter valued at approximately $42,000. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ENB. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities started coverage on shares of 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

ENB opened at $44.23 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78. The business has a 50 day moving average of $43.49 and a 200-day moving average of $42.53. The stock has a market cap of $96.37 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge 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.