Bragg Financial Advisors Inc Purchases 1,271 Shares of Enbridge Inc. (NYSE:ENB)

Bragg Financial Advisors Inc increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,597 shares of the pipeline company’s stock after acquiring an additional 1,271 shares during the period. Bragg Financial Advisors Inc’s holdings in Enbridge were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morse Asset Management Inc bought a new stake in shares of Enbridge during the 3rd quarter valued at about $106,000. Barclays PLC lifted its position in Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock valued at $23,717,000 after purchasing an additional 44,675 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Enbridge in the 3rd quarter worth approximately $203,000. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Finally, Passumpsic Savings Bank raised its position in shares of Enbridge by 2.4% during the 3rd quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company’s stock valued at $470,000 after buying an additional 276 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 1.7 %

Shares of Enbridge stock opened at $43.99 on Tuesday. The company’s 50 day moving average price is $43.14 and its 200-day moving average price is $42.69. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $46.12. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a market capitalization of $95.86 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the company earned $0.64 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research analyst reports. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.