Miller Howard Investments Inc. NY Increases Stock Position in Enbridge Inc $ENB

Miller Howard Investments Inc. NY lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,099,664 shares of the pipeline company’s stock after acquiring an additional 13,537 shares during the quarter. Enbridge accounts for about 1.6% of Miller Howard Investments Inc. NY’s holdings, making the stock its 22nd biggest position. Miller Howard Investments Inc. NY owned about 0.05% of Enbridge worth $52,597,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tsfg LLC boosted its stake in shares of Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of Enbridge during the 3rd quarter worth approximately $26,000. Highline Wealth Partners LLC boosted its stake in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge during the 3rd quarter worth approximately $28,000. Finally, True Wealth Design LLC boosted its stake in shares of Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.0%

Shares of Enbridge stock opened at $52.70 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $55.44. The company has a market capitalization of $115.06 billion, a P/E ratio of 22.91 and a beta of 0.63. The business has a 50 day moving average price of $53.36 and a 200 day moving average price of $49.69.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ENB shares. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

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.