Enbridge Inc. (NYSE:ENB) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 36.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,591 shares of the pipeline company’s stock after buying an additional 2,820 shares during the period. Modern Wealth Management LLC’s holdings in Enbridge were worth $475,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ENB. CoreFirst Bank & Trust acquired a new position in Enbridge in the fourth quarter valued at approximately $172,000. Congress Wealth Management LLC DE bought a new stake in shares of Enbridge in the 4th quarter worth approximately $325,000. Twin City Private Wealth LLC boosted its position in Enbridge by 5.1% during the 4th quarter. Twin City Private Wealth LLC now owns 56,970 shares of the pipeline company’s stock valued at $2,417,000 after purchasing an additional 2,786 shares during the period. Vanguard Group Inc. grew its stake in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. Finally, LPL Financial LLC increased its position in Enbridge by 4.3% in the fourth quarter. LPL Financial LLC now owns 3,070,336 shares of the pipeline company’s stock worth $130,274,000 after buying an additional 127,242 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENB. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Stock Performance

ENB stock opened at $44.38 on Friday. The company has a 50-day simple moving average of $43.49 and a 200 day simple moving average of $42.45. The company has a market capitalization of $96.72 billion, a P/E ratio of 25.80, a PEG ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted $0.64 EPS. Sell-side analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Company 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.