Magnolia Capital Advisors LLC Makes New Investment in Enbridge Inc $ENB

Magnolia Capital Advisors LLC bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,455 shares of the pipeline company’s stock, valued at approximately $202,000.

Other large investors have also made changes to their positions in the company. Dagco Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $25,000. Whipplewood Advisors LLC grew its stake in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the 1st quarter valued at about $30,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Enbridge during the 2nd quarter valued at about $36,000. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ENB. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.50.

Enbridge Trading Down 0.4%

Shares of Enbridge stock opened at $46.41 on Wednesday. The company has a market capitalization of $101.23 billion, a P/E ratio of 22.86, a P/E/G ratio of 4.31 and a beta of 0.78. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The company has a fifty day moving average of $48.33 and a 200 day moving average of $46.73. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

Enbridge Company 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.