Congress Wealth Management LLC DE Buys Shares of 7,667 Enbridge Inc. (NYSE:ENB)

Congress Wealth Management LLC DE purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,667 shares of the pipeline company’s stock, valued at approximately $325,000.

Several other institutional investors and hedge funds also recently modified their holdings of ENB. Metis Global Partners LLC raised its holdings in Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after purchasing an additional 7,986 shares in the last quarter. Aviso Financial Inc. raised its stake in shares of Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after buying an additional 58,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after buying an additional 319,907 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

NYSE ENB opened at $44.43 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78. The company has a market cap of $96.82 billion, a PE ratio of 25.83, a PEG ratio of 3.92 and a beta of 0.95. The stock’s 50-day moving average price is $43.49 and its two-hundred day moving average price is $42.49.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.14 EPS for the current 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.