LRI Investments LLC Makes New $357,000 Investment in Enbridge Inc. (NYSE:ENB)

LRI Investments LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,441 shares of the pipeline company’s stock, valued at approximately $357,000.

A number of other large investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC boosted its stake in shares of Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Enbridge during the fourth quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge during the first quarter valued at $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in Enbridge in the 1st quarter worth about $31,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.9 %

NYSE:ENB traded up $0.33 during mid-day trading on Friday, reaching $36.66. The company’s stock had a trading volume of 3,064,586 shares, compared to its average volume of 3,749,490. The stock has a market cap of $78.23 billion, a P/E ratio of 18.61, a P/E/G ratio of 3.43 and a beta of 0.92. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The company’s fifty day simple moving average is $35.83 and its two-hundred day simple moving average is $35.62.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. On average, equities analysts predict that Enbridge Inc. will post 2.12 EPS 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.