Enbridge Inc $ENB Stock Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,212,807 shares of the pipeline company’s stock after buying an additional 46,227 shares during the quarter. Enbridge comprises about 1.5% of Miller Howard Investments Inc. NY’s holdings, making the stock its 27th biggest holding. Miller Howard Investments Inc. NY’s holdings in Enbridge were worth $56,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ENB. Viewpoint Investment Partners Corp lifted its position in Enbridge by 12.2% in the third quarter. Viewpoint Investment Partners Corp now owns 184,700 shares of the pipeline company’s stock valued at $8,455,000 after acquiring an additional 20,136 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Enbridge by 5.4% in the third quarter. Apollon Wealth Management LLC now owns 130,285 shares of the pipeline company’s stock valued at $6,057,000 after acquiring an additional 6,625 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Enbridge by 2.2% in the third quarter. Kingswood Wealth Advisors LLC now owns 17,377 shares of the pipeline company’s stock valued at $808,000 after acquiring an additional 366 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Enbridge by 2.9% during the third quarter. Evergreen Capital Management LLC now owns 132,393 shares of the pipeline company’s stock worth $6,155,000 after purchasing an additional 3,766 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of Enbridge by 7.4% during the third quarter. Tectonic Advisors LLC now owns 354,389 shares of the pipeline company’s stock worth $16,476,000 after purchasing an additional 24,314 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of research analyst reports. BMO Capital Markets upgraded Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 target price on the stock in a research report on Monday, September 14th. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Scotiabank raised Enbridge to a “strong-buy” rating in a research report on Thursday, September 17th. National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Finally, Royal Bank Of Canada increased their price objective on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.

Enbridge Trading Up 0.3%

Shares of Enbridge stock opened at $48.28 on Tuesday. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The company has a market capitalization of $107.61 billion, a P/E ratio of 25.82, a PEG ratio of 5.75 and a beta of 0.60. The company’s fifty day moving average is $48.49 and its two-hundred day moving average is $52.07.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The business had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the prior year, the company earned $0.65 earnings per share. Analysts forecast that Enbridge Inc will post 2.09 earnings per share for the current year.

Enbridge Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.