Meriwether Wealth & Planning LLC Takes $417,000 Position in Enbridge Inc. (NYSE:ENB)

Meriwether Wealth & Planning LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 9,833 shares of the pipeline company’s stock, valued at approximately $417,000.

Other large investors also recently bought and sold shares of the company. Swiss National Bank lifted its position in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Metis Global Partners LLC increased its stake in Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after purchasing an additional 7,986 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. increased its stake in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Trading Up 1.0 %

Shares of ENB stock opened at $42.00 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The stock has a fifty day moving average of $43.45 and a two-hundred day moving average of $42.13. The firm has a market capitalization of $91.51 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

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.