Enbridge Inc (NYSE:ENB) Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Enbridge Inc. by 23.0% in the first quarter, owning 249,291 shares valued at approximately $11,046,000.
• Several other hedge funds, including Garde Capital Inc. and Financial Gravity Asset Management Inc., also acquired new positions in Enbridge during the same period.
• Enbridge received multiple analyst upgrades, with a current consensus rating of "Moderate Buy" and a price target of $67.00.

Assetmark Inc. raised its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 23.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,291 shares of the pipeline company's stock after purchasing an additional 46,590 shares during the period. Assetmark Inc.'s holdings in Enbridge were worth $11,046,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ENB. Garde Capital Inc. purchased a new position in shares of Enbridge during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge in the 1st quarter valued at $28,000. GeoWealth Management LLC lifted its stake in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the period. Wolff Wiese Magana LLC boosted its holdings in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after purchasing an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Enbridge during the fourth quarter worth $39,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Trading Down 1.0%

NYSE ENB opened at $45.00 on Friday. The firm has a market capitalization of $98.11 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 4.20 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. Enbridge Inc has a one year low of $36.38 and a one year high of $47.44. The company's 50 day moving average price is $45.41 and its 200 day moving average price is $44.51.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter last year, the firm posted $0.92 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current 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.

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