Maridea Wealth Management LLC Buys New Stake in Enbridge Inc. (NYSE:ENB)

Maridea Wealth Management LLC bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,980 shares of the pipeline company's stock, valued at approximately $678,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Enbridge during the 4th quarter worth about $909,415,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock worth $194,938,000 after purchasing an additional 4,502,115 shares during the period. Raymond James Financial Inc. purchased a new position in Enbridge during the fourth quarter valued at approximately $180,941,000. Vanguard Group Inc. increased its stake in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after buying an additional 3,611,421 shares during the period. Finally, National Bank of Canada FI lifted its position in Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock worth $737,754,000 after buying an additional 2,061,758 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research reports. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $67.00.

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Enbridge Stock Up 0.5 %

Shares of Enbridge stock traded up $0.22 during midday trading on Tuesday, reaching $44.53. 684,241 shares of the company's stock traded hands, compared to its average volume of 3,938,051. The company has a market cap of $97.03 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company's 50 day simple moving average is $43.49 and its 200 day simple moving average is $42.53. 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 (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Equities analysts expect 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.