TrueMark Investments LLC Acquires 14,826 Shares of Enbridge Inc $ENB

TrueMark Investments LLC lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 206,664 shares of the pipeline company’s stock after buying an additional 14,826 shares during the quarter. Enbridge accounts for approximately 1.9% of TrueMark Investments LLC’s portfolio, making the stock its 9th biggest position. TrueMark Investments LLC’s holdings in Enbridge were worth $9,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Westwood Holdings Group Inc. increased its position in shares of Enbridge by 83.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock worth $104,284,000 after purchasing an additional 1,044,093 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after purchasing an additional 221,976 shares during the last quarter. Trajan Wealth LLC grew its stake in Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after purchasing an additional 106,784 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after buying an additional 24,165 shares during the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in Enbridge by 5.7% in the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company’s stock valued at $48,026,000 after buying an additional 51,645 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada increased their target price on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $54.59 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The firm’s 50-day moving average price is $51.81 and its two-hundred day moving average price is $49.23. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $55.11. The stock has a market capitalization of $119.13 billion, a P/E ratio of 23.73 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion during the quarter, compared to analyst estimates 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 company earned $0.75 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current 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.