Enbridge Inc. (NYSE:ENB) Stock Position Lifted by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,916 shares of the pipeline company’s stock after buying an additional 4,906 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Enbridge were worth $20,201,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ENB. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter worth about $29,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in Enbridge in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ENB. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada increased their target price 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. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

Shares of Enbridge stock opened at $44.23 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a fifty day simple moving average of $43.49 and a 200-day simple moving average of $42.53. The stock has a market capitalization of $96.37 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the business earned $0.64 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share 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.