Enbridge Inc $ENB is TrueMark Investments LLC’s 9th Largest Position

TrueMark Investments LLC increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 206,664 shares of the pipeline company’s stock after purchasing an additional 14,826 shares during the quarter. Enbridge accounts for about 1.9% of TrueMark Investments LLC’s investment portfolio, making the stock its 9th largest holding. TrueMark Investments LLC’s holdings in Enbridge were worth $9,885,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia grew its stake in Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Enbridge by 38.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock valued at $599,556,000 after acquiring an additional 3,687,334 shares during the period. Raymond James Financial Inc. raised its stake in shares of Enbridge by 43.7% in the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after acquiring an additional 2,016,674 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock valued at $4,959,009,000 after acquiring an additional 1,892,491 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Enbridge during the 3rd quarter valued at $88,407,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $54.59 on Monday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $55.11. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The company has a market capitalization of $119.13 billion, a price-to-earnings ratio of 23.73 and a beta of 0.67. The firm’s fifty day moving average price is $51.81 and its 200 day moving average price is $49.23.

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

Analyst Ratings Changes

ENB has been the subject of several recent research reports. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Royal Bank Of Canada boosted their price objective on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

About Enbridge

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.