Intrepid Capital Management Inc. Purchases New Position in Enbridge Inc. (NYSE:ENB)

Intrepid Capital Management Inc. purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel reports. The firm purchased 5,532 shares of the pipeline company’s stock, valued at approximately $235,000.

Several other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its stake in Enbridge by 1.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,924,463 shares of the pipeline company’s stock valued at $166,515,000 after acquiring an additional 71,219 shares during the period. May Hill Capital LLC purchased a new position in Enbridge during the fourth quarter valued at $323,000. Geode Capital Management LLC grew its position in shares of Enbridge by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock valued at $571,389,000 after purchasing an additional 3,091,442 shares during the period. National Wealth Management Group LLC increased its stake in shares of Enbridge by 9.8% during the fourth quarter. National Wealth Management Group LLC now owns 12,347 shares of the pipeline company’s stock worth $524,000 after purchasing an additional 1,104 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its position in shares of Enbridge by 7.9% during the 4th quarter. HighPoint Advisor Group LLC now owns 31,264 shares of the pipeline company’s stock worth $1,415,000 after purchasing an additional 2,296 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENB has been the subject of several research reports. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Trading Up 0.6 %

Shares of NYSE ENB opened at $44.58 on Wednesday. The stock has a fifty day simple moving average of $43.47 and a 200-day simple moving average of $42.56. Enbridge Inc. has a twelve month low of $32.86 and a twelve month 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. The stock has a market capitalization of $97.15 billion, a PE ratio of 25.92, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities analysts forecast 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.