Guardian Partners Inc. Makes New $34.75 Million Investment in Enbridge Inc. (NYSE:ENB)

Guardian Partners Inc. bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 789,427 shares of the pipeline company’s stock, valued at approximately $34,745,000. Enbridge makes up 3.5% of Guardian Partners Inc.’s investment portfolio, making the stock its 4th biggest holding.

A number of other institutional investors also recently bought and sold shares of ENB. Thrivent Financial for Lutherans boosted its position in Enbridge by 23.4% during the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock worth $1,895,000 after purchasing an additional 8,848 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Enbridge by 268.3% in the third quarter. Avior Wealth Management LLC now owns 5,790 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 4,218 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Enbridge in the third quarter valued at $976,000. First Horizon Advisors Inc. lifted its position in shares of Enbridge by 9.7% in the third quarter. First Horizon Advisors Inc. now owns 5,773 shares of the pipeline company’s stock valued at $234,000 after acquiring an additional 511 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Enbridge in the third quarter valued at $206,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ENB. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $43.89 on Friday. The firm has a market capitalization of $95.63 billion, a P/E ratio of 25.51, a PEG ratio of 3.92 and a beta of 0.95. The stock has a fifty day moving average price of $43.46 and a 200 day moving average price of $42.35. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

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