PJT Investments Corp. Buys 9,872 Shares of Enbridge Inc $ENB

PJT Investments Corp. grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.4% in the third quarter, Holdings Channel.com reports. The fund owned 708,513 shares of the pipeline company’s stock after purchasing an additional 9,872 shares during the period. Enbridge makes up about 20.1% of PJT Investments Corp.’s holdings, making the stock its 2nd largest holding. PJT Investments Corp.’s holdings in Enbridge were worth $35,752,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tsfg LLC grew its holdings in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares during the last quarter. Highline Wealth Partners LLC raised its stake in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Enbridge in the 2nd quarter worth about $29,000. True Wealth Design LLC boosted its position in shares of Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Enbridge in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $54.08 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The company has a market cap of $117.99 billion, a PE ratio of 23.51 and a beta of 0.67. The company’s fifty day simple moving average is $49.62 and its 200-day simple moving average is $48.59. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.42.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the prior year, the company earned $0.75 EPS. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ENB shares. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Finally, TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.