SVB Wealth LLC Makes New $280,000 Investment in Enbridge Inc. (NYSE:ENB)

SVB Wealth LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,595 shares of the pipeline company’s stock, valued at approximately $280,000.

Other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in Enbridge during the 4th quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in Enbridge during the 3rd quarter worth about $37,000. Dixon Mitchell Investment Counsel Inc. lifted its holdings in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in Enbridge during the 4th quarter worth about $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Up 2.5 %

ENB opened at $42.60 on Thursday. The business’s 50-day simple moving average is $43.45 and its 200-day simple moving average is $42.07. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The stock has a market capitalization of $92.82 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the firm posted $0.64 EPS. Analysts anticipate that Enbridge Inc. will post 2.14 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.