Wealth Alliance Acquires 958 Shares of Enbridge Inc. (NYSE:ENB)

Wealth Alliance increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,198 shares of the pipeline company’s stock after acquiring an additional 958 shares during the period. Wealth Alliance’s holdings in Enbridge were worth $1,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in Enbridge by 109,143.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock valued at $1,895,102,000 after purchasing an additional 48,423,715 shares in the last quarter. Wellington Management Group LLP raised its position in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after purchasing an additional 28,076,386 shares in the last quarter. TD Asset Management Inc raised its position in Enbridge by 2.2% during the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after purchasing an additional 664,057 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in Enbridge by 5.1% during the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after purchasing an additional 1,353,753 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 2.3 %

ENB opened at $32.97 on Wednesday. The firm has a market cap of $70.09 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.17 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The stock has a fifty day moving average price of $35.05 and a 200-day moving average price of $34.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ENB shares. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.20.

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.