Maxi Investments CY Ltd Makes New Investment in Enbridge Inc $ENB

Key Points

• Maxi Investments CY Ltd established a new position in Enbridge, buying 20,200 shares in Q3 valued at about $1.02 million, according to its latest 13F filing.
• Analyst activity is mixed but the consensus rating is a Moderate Buy with a $65 average target, while Royal Bank of Canada recently raised its price target to $76.
• Enbridge trades around $54.5 (12‑month range $39.73–$54.60) with a market cap near $119 billion, and it recently posted an earnings beat of $0.63 EPS versus $0.60 expected; analysts project about $2.14 EPS for the fiscal year.

Maxi Investments CY Ltd purchased a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,200 shares of the pipeline company's stock, valued at approximately $1,019,000.

Several other hedge funds and other institutional investors have also modified their holdings of ENB. IHT Wealth Management LLC raised its stake in Enbridge by 1.2% during the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company's stock worth $820,000 after acquiring an additional 213 shares during the period. HBK Sorce Advisory LLC boosted its stake in Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company's stock valued at $609,000 after acquiring an additional 215 shares during the period. Copperleaf Capital LLC grew its holdings in shares of Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company's stock valued at $319,000 after purchasing an additional 217 shares during the last quarter. South Plains Financial Inc. raised its position in shares of Enbridge by 13.2% during the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company's stock worth $85,000 after purchasing an additional 220 shares during the period. Finally, AdvisorNet Financial Inc raised its position in shares of Enbridge by 2.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company's stock worth $395,000 after purchasing an additional 221 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price objective on Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. downgraded shares of Enbridge from an "overweight" rating to a "neutral" rating in a report on Tuesday, January 27th. Zacks Research upgraded shares of Enbridge from a "strong sell" rating to a "hold" rating in a research report on Monday, December 29th. Finally, Citigroup reiterated a "buy" rating on shares of Enbridge in a research report on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.00.

Enbridge Price Performance

NYSE ENB opened at $54.54 on Tuesday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $54.60. The firm has a market capitalization of $119.00 billion, a PE ratio of 23.71 and a beta of 0.67. The company's 50 day simple moving average is $50.37 and its 200 day simple moving average is $48.87. 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 (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the prior year, the firm posted $0.75 earnings per share. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge 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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