SIR Capital Management L.P. Invests $12.53 Million in Enbridge Inc (ENB) Stock

SIR Capital Management L.P. purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 320,457 shares of the pipeline company’s stock, valued at approximately $12,533,000. Enbridge accounts for about 2.8% of SIR Capital Management L.P.’s holdings, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spectrum Management Group Inc. bought a new position in shares of Enbridge during the 3rd quarter valued at $113,000. Fieldpoint Private Securities LLC bought a new position in Enbridge in the 3rd quarter worth $130,000. Valeo Financial Advisors LLC bought a new position in Enbridge in the 3rd quarter worth $146,000. Taylor Hoffman Wealth Management bought a new position in Enbridge in the 4th quarter worth $140,000. Finally, Field & Main Bank bought a new position in Enbridge in the 4th quarter worth $149,000. 65.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Enbridge Inc (ENB) traded up $0.20 during trading on Wednesday, reaching $33.09. The company had a trading volume of 3,616,732 shares, compared to its average volume of 3,310,000. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The company has a market cap of $56,110.00, a PE ratio of 25.45, a P/E/G ratio of 2.37 and a beta of 0.65. Enbridge Inc has a one year low of $31.19 and a one year high of $42.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.06. The business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.39 billion. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. equities research analysts anticipate that Enbridge Inc will post 1.77 EPS for the current fiscal year.

A number of brokerages recently commented on ENB. Morgan Stanley decreased their target price on Enbridge from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 target price on shares of Enbridge in a report on Thursday, November 30th. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, Bank of America began coverage on Enbridge in a report on Tuesday, January 9th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $51.25.

In other Enbridge news, Director Michael E. J. Phelps sold 18,054 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total transaction of $613,836.00. Following the sale, the director now directly owns 56,245 shares of the company’s stock, valued at $1,912,330. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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