HUB Investment Partners LLC Grows Holdings in Enbridge Inc $ENB

HUB Investment Partners LLC lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 205,672 shares of the pipeline company’s stock after acquiring an additional 12,064 shares during the quarter. HUB Investment Partners LLC’s holdings in Enbridge were worth $10,378,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC raised its position in Enbridge by 1.2% in the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after purchasing an additional 213 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of Enbridge by 1.8% during the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after buying an additional 215 shares during the period. Copperleaf Capital LLC boosted its position in shares of Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after buying an additional 217 shares during the period. South Plains Financial Inc. grew its stake in shares of Enbridge by 13.2% in the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after buying an additional 220 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of Enbridge by 2.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after buying an additional 221 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ENB shares. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Stock Up 0.4%

Shares of NYSE:ENB opened at $54.08 on Friday. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $54.42. The firm’s 50 day moving average price is $49.62 and its 200 day moving average price is $48.59. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The stock has a market cap of $117.99 billion, a price-to-earnings ratio of 23.51 and a beta of 0.67.

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

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.