Assetmark Inc. Boosts Stake in Enbridge Inc $ENB

Assetmark Inc. raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 100.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 499,272 shares of the pipeline company’s stock after purchasing an additional 249,981 shares during the period. Assetmark Inc.’s holdings in Enbridge were worth $22,627,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. Brighton Jones LLC purchased a new stake in Enbridge in the 4th quarter valued at about $261,000. Koshinski Asset Management Inc. increased its stake in Enbridge by 30.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 6,726 shares of the pipeline company’s stock valued at $298,000 after buying an additional 1,574 shares during the last quarter. Mather Group LLC. grew its position in shares of Enbridge by 54.8% during the 1st quarter. Mather Group LLC. now owns 2,016 shares of the pipeline company’s stock valued at $89,000 after acquiring an additional 714 shares during the period. Vontobel Holding Ltd. grew its position in shares of Enbridge by 98.8% during the 1st quarter. Vontobel Holding Ltd. now owns 11,481 shares of the pipeline company’s stock valued at $508,000 after acquiring an additional 5,706 shares during the period. Finally, Rossby Financial LCC bought a new position in shares of Enbridge during the 1st quarter valued at approximately $67,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of a number of research reports. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.50.

Enbridge Stock Down 0.7%

ENB opened at $46.65 on Friday. The company has a 50 day moving average of $48.38 and a 200 day moving average of $46.68. The company has a market cap of $101.74 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 4.31 and a beta of 0.78. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the firm earned $0.58 EPS. On average, sell-side analysts expect that Enbridge Inc will post 2.14 EPS for the current 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.