Kellett Wealth Advisors LLC Increases Holdings in Enbridge Inc. (NYSE:ENB)

Kellett Wealth Advisors LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 20.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,546 shares of the pipeline company’s stock after buying an additional 1,618 shares during the quarter. Kellett Wealth Advisors LLC’s holdings in Enbridge were worth $344,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Telos Capital Management Inc. raised its position in Enbridge by 3.7% in the 4th quarter. Telos Capital Management Inc. now owns 149,659 shares of the pipeline company’s stock worth $5,391,000 after purchasing an additional 5,384 shares during the period. Scissortail Wealth Management LLC purchased a new stake in Enbridge in the 4th quarter worth about $687,000. Avior Wealth Management LLC raised its position in Enbridge by 50.8% in the 4th quarter. Avior Wealth Management LLC now owns 1,558 shares of the pipeline company’s stock worth $56,000 after purchasing an additional 525 shares during the period. Diversified Portfolios Inc. purchased a new stake in Enbridge in the 4th quarter worth about $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Enbridge by 17.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 807,385 shares of the pipeline company’s stock worth $29,207,000 after purchasing an additional 117,092 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group initiated coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Up 1.7 %

Shares of NYSE ENB traded up $0.58 during midday trading on Thursday, reaching $33.91. 7,831,906 shares of the company’s stock traded hands, compared to its average volume of 5,457,855. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The stock’s 50 day simple moving average is $35.03 and its 200-day simple moving average is $34.65. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The company has a market cap of $72.09 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 3.12 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, analysts predict that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

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.