Sterling Investment Advisors Ltd. Increases Stock Position in Enbridge Inc (NYSE:ENB)

Key Points

• Sterling Investment Advisors Ltd. increased its stake in Enbridge Inc. by 71.0%, owning 16,070 shares valued at approximately $712,000.
• Enbridge recently reported an earnings per share (EPS) of $0.72 for the quarter, exceeding the consensus estimate by $0.04.
• Analysts have a consensus "Moderate Buy" rating on Enbridge, with a price target of $67.00.

Sterling Investment Advisors Ltd. raised its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 71.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 16,070 shares of the pipeline company's stock after acquiring an additional 6,675 shares during the quarter. Sterling Investment Advisors Ltd.'s holdings in Enbridge were worth $712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. Arrowstreet Capital Limited Partnership boosted its stake in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Blackstone Inc. boosted its stake in shares of Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the last quarter. Deutsche Bank AG boosted its stake in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Geode Capital Management LLC boosted its stake in Enbridge by 30.5% during the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock worth $571,389,000 after acquiring an additional 3,091,442 shares in the last quarter. Finally, FIL Ltd boosted its stake in Enbridge by 17.0% during the fourth quarter. FIL Ltd now owns 10,084,416 shares of the pipeline company's stock worth $428,015,000 after acquiring an additional 1,466,183 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.7%

ENB traded down $0.32 during trading on Monday, hitting $44.65. 2,853,686 shares of the company's stock were exchanged, compared to its average volume of 3,833,351. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The business's 50 day moving average is $45.41 and its two-hundred day moving average is $44.52. Enbridge Inc has a fifty-two week low of $36.50 and a fifty-two week high of $47.44. The stock has a market cap of $97.35 billion, a P/E ratio of 23.02, a PEG ratio of 4.19 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. As a group, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ENB. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.00.

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.