Horizon Investments LLC Purchases 1,233 Shares of Enbridge Inc. (NYSE:ENB)

Horizon Investments LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,691 shares of the pipeline company’s stock after acquiring an additional 1,233 shares during the period. Horizon Investments LLC’s holdings in Enbridge were worth $2,448,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in shares of Enbridge by 39.6% during the third quarter. Natixis Advisors LLC now owns 193,042 shares of the pipeline company’s stock valued at $7,839,000 after acquiring an additional 54,737 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Enbridge by 23.4% during the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock valued at $1,895,000 after acquiring an additional 8,848 shares in the last quarter. TrinityPoint Wealth LLC raised its stake in shares of Enbridge by 28.0% during the third quarter. TrinityPoint Wealth LLC now owns 14,188 shares of the pipeline company’s stock valued at $576,000 after acquiring an additional 3,107 shares in the last quarter. Verity & Verity LLC raised its stake in shares of Enbridge by 3.0% during the third quarter. Verity & Verity LLC now owns 496,063 shares of the pipeline company’s stock valued at $20,145,000 after acquiring an additional 14,498 shares in the last quarter. Finally, Prospera Financial Services Inc raised its stake in shares of Enbridge by 5.5% during the third quarter. Prospera Financial Services Inc now owns 32,513 shares of the pipeline company’s stock valued at $1,321,000 after acquiring an additional 1,703 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $43.41 on Wednesday. The business’s fifty day simple moving average is $43.45 and its 200-day simple moving average is $42.29. The company has a market cap of $94.59 billion, a PE ratio of 25.24, a PEG ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 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.

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

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.