AllSquare Wealth Management LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

AllSquare Wealth Management LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,150 shares of the pipeline company’s stock after purchasing an additional 300 shares during the quarter. AllSquare Wealth Management LLC’s holdings in Enbridge were worth $643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENB. Natixis Advisors LLC raised its stake in shares of Enbridge by 39.6% during the 3rd quarter. Natixis Advisors LLC now owns 193,042 shares of the pipeline company’s stock worth $7,839,000 after buying an additional 54,737 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Enbridge by 23.4% in the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock valued at $1,895,000 after purchasing an additional 8,848 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of Enbridge by 5.5% during the 3rd quarter. Prospera Financial Services Inc now owns 32,513 shares of the pipeline company’s stock worth $1,321,000 after purchasing an additional 1,703 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Enbridge by 142.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 14,134 shares of the pipeline company’s stock worth $574,000 after purchasing an additional 8,308 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in Enbridge by 17.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,899 shares of the pipeline company’s stock valued at $321,000 after buying an additional 1,202 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Stock Up 1.1 %

Shares of NYSE ENB opened at $44.21 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78. The stock’s 50-day simple moving average is $43.45 and its 200-day simple moving average is $42.31. The firm has a market cap of $96.34 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates 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 company posted $0.64 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.