Enbridge Inc. (NYSE:ENB) Shares Purchased by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 641,864 shares of the pipeline company’s stock after acquiring an additional 2,579 shares during the quarter. Enbridge accounts for 5.9% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 8th largest position. Galibier Capital Management Ltd.’s holdings in Enbridge were worth $26,103,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust increased its position in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its holdings in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in Enbridge in the second quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge in the second quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the 1st quarter worth about $29,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE:ENB traded down $0.05 on Wednesday, reaching $40.35. 108,510 shares of the company were exchanged, compared to its average volume of 4,869,083. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 1-year low of $31.68 and a 1-year high of $42.16. The company has a 50-day moving average of $40.66 and a 200-day moving average of $37.85. The firm has a market cap of $86.10 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

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

Analysts Set New Price Targets

A number of research firms recently commented on ENB. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company.

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.