SVB Wealth LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

SVB Wealth LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,595 shares of the pipeline company’s stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares during the last quarter. National Bank of Canada FI increased its stake in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after acquiring an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Enbridge by 10.8% during the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after buying an additional 985,546 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ENB. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average 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 firm has a market cap of $92.82 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The stock has a fifty day moving average price of $43.45 and a 200 day moving average price of $42.07. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. 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 released its 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. The firm 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 last year, the business posted $0.64 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.