Congress Wealth Management LLC DE Takes $325,000 Position in Enbridge Inc. (NYSE:ENB)

Congress Wealth Management LLC DE purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,667 shares of the pipeline company’s stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC boosted its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter valued at $29,000. Wintrust Investments LLC boosted its stake in 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 acquiring an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. grew 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 acquiring an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in shares of Enbridge in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Price Performance

ENB opened at $44.43 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $43.49 and its 200 day moving average price is $42.49. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The firm has a market cap of $96.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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 business 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 period in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

About Enbridge

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.