Syon Capital LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

Syon Capital LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 83.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,301 shares of the pipeline company’s stock after purchasing an additional 4,687 shares during the quarter. Syon Capital LLC’s holdings in Enbridge were worth $437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new position in shares of Enbridge during the 3rd quarter valued at $106,000. Barclays PLC lifted its stake in shares of Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock worth $23,717,000 after purchasing an additional 44,675 shares in the last quarter. McIlrath & Eck LLC lifted its stake in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Passumpsic Savings Bank boosted its position in shares of Enbridge by 2.4% in the third quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company’s stock worth $470,000 after buying an additional 276 shares during the period. Finally, Anchor Investment Management LLC grew its stake in shares of Enbridge by 0.5% in the third quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company’s stock valued at $4,996,000 after buying an additional 581 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ENB shares. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

ENB stock opened at $46.37 on Friday. The company has a market capitalization of $101.05 billion, a PE ratio of 26.96, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock’s 50 day moving average is $43.27 and its two-hundred day moving average is $42.91. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $46.42.

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. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.