Enbridge Inc. (NYSE:ENB) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,765 shares of the pipeline company’s stock after selling 1,130 shares during the period. Meridian Wealth Management LLC’s holdings in Enbridge were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. LGT Group Foundation increased its holdings in shares of Enbridge by 0.5% in the 4th quarter. LGT Group Foundation now owns 260,660 shares of the pipeline company’s stock valued at $11,049,000 after acquiring an additional 1,240 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Enbridge in the 4th quarter valued at about $1,405,000. Jones Financial Companies Lllp increased its holdings in shares of Enbridge by 64.2% in the 4th quarter. Jones Financial Companies Lllp now owns 938,013 shares of the pipeline company’s stock valued at $39,800,000 after acquiring an additional 366,863 shares during the last quarter. Modera Wealth Management LLC increased its holdings in shares of Enbridge by 3.5% in the 4th quarter. Modera Wealth Management LLC now owns 12,573 shares of the pipeline company’s stock valued at $533,000 after acquiring an additional 429 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Enbridge by 138.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,959 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 1,138 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Trading Up 2.5 %

NYSE:ENB opened at $42.60 on Thursday. The stock’s 50 day moving average price is $43.45 and its 200 day moving average price is $42.07. The company has a market capitalization of $92.82 billion, a PE ratio of 24.76, a P/E/G ratio of 3.92 and a beta of 0.94. 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 52-week low of $32.85 and a 52-week high of $45.78.

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, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business posted $0.64 EPS. On average, research analysts anticipate 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.