International Assets Investment Management LLC Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

International Assets Investment Management LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 734.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 891,403 shares of the pipeline company’s stock after purchasing an additional 784,535 shares during the period. International Assets Investment Management LLC’s holdings in Enbridge were worth $36,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Grove Bank & Trust boosted its position in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. TruNorth Capital Management LLC acquired a new stake in Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the first quarter worth about $29,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ENB. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday. They set an “equal weight” rating on the stock.

Enbridge Stock Down 0.2 %

ENB stock opened at $40.88 on Tuesday. Enbridge Inc. has a 52 week low of $31.47 and a 52 week high of $42.16. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a 50-day simple moving average of $40.63 and a 200-day simple moving average of $37.81. The stock has a market capitalization of $87.22 billion, a P/E ratio of 20.75, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the business posted $0.51 earnings per share. Equities analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

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.