Independence Bank of Kentucky Grows Holdings in Enbridge Inc. (NYSE:ENB)

Independence Bank of Kentucky increased its position in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 78.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,004 shares of the pipeline company’s stock after acquiring an additional 1,323 shares during the quarter. Independence Bank of Kentucky’s holdings in Enbridge were worth $108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. Moneta Group Investment Advisors LLC increased its holdings in Enbridge by 109,143.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after acquiring an additional 48,423,715 shares in the last quarter. Wellington Management Group LLP grew its holdings in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after buying an additional 28,076,386 shares in the last quarter. Norges Bank purchased a new stake in Enbridge during the 4th quarter valued at approximately $723,255,000. Vanguard Group Inc. grew its holdings in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Enbridge by 36.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after buying an additional 2,814,200 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ENB shares. Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus started coverage on shares of Enbridge in a report on Thursday, January 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average target price of $55.20.

Get Our Latest Report on ENB

Enbridge Trading Down 0.2 %

ENB stock opened at $35.79 on Thursday. The firm has a fifty day moving average price of $35.21 and a 200 day moving average price of $34.63. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The firm has a market cap of $76.07 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 3.39 and a beta of 0.84.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Sell-side analysts anticipate that Enbridge Inc. will post 2.11 earnings per share for the current fiscal year.

Enbridge Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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