National Wealth Management Group LLC Buys 1,104 Shares of Enbridge Inc. (NYSE:ENB)

National Wealth Management Group LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,347 shares of the pipeline company’s stock after purchasing an additional 1,104 shares during the quarter. National Wealth Management Group LLC’s holdings in Enbridge were worth $524,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FMR LLC raised its holdings in Enbridge by 9.4% in the third quarter. FMR LLC now owns 4,932,822 shares of the pipeline company’s stock worth $200,384,000 after purchasing an additional 425,706 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Enbridge by 734.9% during the third quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after acquiring an additional 47,063 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in Enbridge by 36.8% in the third quarter. CreativeOne Wealth LLC now owns 7,996 shares of the pipeline company’s stock worth $325,000 after purchasing an additional 2,152 shares during the period. Verition Fund Management LLC increased its stake in shares of Enbridge by 13.5% during the third quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company’s stock valued at $310,000 after purchasing an additional 910 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Enbridge during the third quarter valued at $1,572,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $44.23 on Tuesday. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a market cap of $96.37 billion, a P/E ratio of 25.71, a P/E/G ratio of 3.92 and a beta of 0.95. The stock’s fifty day moving average is $43.49 and its 200 day moving average is $42.53.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

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

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.