Heritage Wealth Advisors increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 6,102 shares of the pipeline company’s stock after purchasing an additional 599 shares during the period. Heritage Wealth Advisors’ holdings in Enbridge were worth $221,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. AE Wealth Management LLC grew its stake in shares of Enbridge by 2.4% in the fourth quarter. AE Wealth Management LLC now owns 31,348 shares of the pipeline company’s stock worth $974,000 after purchasing an additional 740 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its position in Enbridge by 25.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 9,448 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 1,930 shares during the last quarter. Morgan Stanley boosted its position in Enbridge by 11.0% during the third quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock valued at $154,592,000 after acquiring an additional 472,660 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in Enbridge during the fourth quarter valued at $3,328,000. Finally, Mutual Advisors LLC bought a new stake in Enbridge during the fourth quarter valued at $478,000. Institutional investors own 56.65% of the company’s stock.
Shares of Enbridge stock traded down $0.53 on Tuesday, hitting $36.73. 120,244 shares of the company traded hands, compared to its average volume of 3,553,506. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.58. The stock has a market cap of $75.40 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 2.47 and a beta of 0.69. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $37.96.
Several equities analysts have recently weighed in on ENB shares. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, February 5th. ValuEngine downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Scotiabank downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Evercore ISI initiated coverage on shares of Enbridge in a research note on Tuesday, February 5th. They issued an “outperform” rating on the stock. Finally, Macquarie initiated coverage on shares of Enbridge in a research note on Thursday, January 24th. They issued an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Enbridge has an average rating of “Buy” and a consensus target price of $46.46.
In related news, insider Cynthia L. Hansen acquired 799 shares of the stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $49.13 per share, for a total transaction of $39,254.87. Following the transaction, the insider now owns 105,423 shares in the company, valued at approximately $5,179,431.99. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William T. Yardley sold 14,900 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total transaction of $551,002.00. Following the sale, the insider now owns 94,770 shares in the company, valued at approximately $3,504,594.60. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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