Maridea Wealth Management LLC Acquires Shares of 15,980 Enbridge Inc. (NYSE:ENB)

Maridea Wealth Management LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,980 shares of the pipeline company’s stock, valued at approximately $678,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Enbridge in the 4th quarter valued at about $909,415,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Enbridge during the 4th quarter worth $180,941,000. Vanguard Group Inc. raised its position in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock opened at $44.43 on Friday. Enbridge Inc. has a 1-year low of $32.86 and a 1-year high of $45.78. The business’s 50-day moving average price is $43.49 and its two-hundred day moving average price is $42.47. The firm has a market cap of $96.82 billion, a PE ratio of 25.83, a P/E/G ratio of 3.92 and a beta of 0.95. 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 (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm earned $0.64 EPS. As a group, research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.