Congress Wealth Management LLC DE Makes New Investment in Enbridge Inc. (NYSE:ENB)

Congress Wealth Management LLC DE purchased a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,667 shares of the pipeline company's stock, valued at approximately $325,000.

A number of other hedge funds also recently modified their holdings of the business. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of Enbridge in the fourth quarter valued at about $29,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock worth $41,000 after buying an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in shares of Enbridge during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ENB. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada boosted their price objective 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. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

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Enbridge Stock Up 1.3 %

NYSE ENB traded up $0.57 during trading hours on Wednesday, hitting $45.14. 2,232,826 shares of the company traded hands, compared to its average volume of 4,390,513. 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 business's 50-day moving average is $43.48 and its 200-day moving average is $42.57. The stock has a market capitalization of $98.37 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS 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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. Sell-side analysts anticipate 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.