Columbus Macro LLC Buys 23,043 Shares of Enbridge Inc $ENB

Key Points

• Columbus Macro LLC increased its stake in Enbridge by 7.5%, buying 23,043 shares to hold 331,453 shares valued at about $15.87M, roughly 1.7% of its portfolio and its fifth-largest holding.
• Enbridge beat quarterly expectations with EPS of $0.63 (vs. $0.60 est.) and revenue of $17.18B, and analysts maintain a consensus "Moderate Buy" with an average target price of $65.00.

Columbus Macro LLC grew its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 331,453 shares of the pipeline company's stock after purchasing an additional 23,043 shares during the quarter. Enbridge makes up approximately 1.7% of Columbus Macro LLC's investment portfolio, making the stock its 5th largest holding. Columbus Macro LLC's holdings in Enbridge were worth $15,873,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ENB. Westwood Holdings Group Inc. lifted its holdings in shares of Enbridge by 83.1% during the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company's stock worth $104,284,000 after buying an additional 1,044,093 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Enbridge by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company's stock valued at $83,176,000 after acquiring an additional 221,976 shares during the period. Trajan Wealth LLC grew its stake in shares of Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company's stock valued at $40,583,000 after acquiring an additional 106,784 shares in the last quarter. Principal Financial Group Inc. increased its position in Enbridge by 7.7% during the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company's stock worth $17,113,000 after acquiring an additional 24,165 shares during the period. Finally, Capital Advisors Inc. OK increased its position in Enbridge by 5.7% during the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company's stock worth $48,026,000 after acquiring an additional 51,645 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Up 0.0%

Shares of ENB opened at $54.59 on Monday. The firm has a 50 day simple moving average of $51.81 and a two-hundred day simple moving average of $49.23. 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 one year low of $39.73 and a one year high of $55.11. The company has a market cap of $119.13 billion, a P/E ratio of 23.73 and a beta of 0.67.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the company posted $0.75 EPS. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on ENB shares. Weiss Ratings raised shares of Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Tuesday, February 17th. Scotiabank reiterated an "outperform" rating on shares of Enbridge in a research report on Tuesday, February 17th. Citigroup reiterated a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. lowered Enbridge from an "overweight" rating to a "neutral" rating in a research note on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.00.

Enbridge Company Profile

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.

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