6,595 Shares in Enbridge Inc. (NYSE:ENB) Purchased by SVB Wealth LLC

SVB Wealth LLC bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,595 shares of the pipeline company's stock, valued at approximately $280,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock worth $984,205,000 after purchasing an additional 936,863 shares during the period. National Bank of Canada FI increased 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 during the period. JPMorgan Chase & Co. lifted its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock worth $655,556,000 after buying an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Enbridge by 10.8% in the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company's stock worth $416,431,000 after acquiring an additional 985,546 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

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Enbridge Stock Performance

ENB traded up $0.40 during trading on Friday, reaching $42.00. 3,144,296 shares of the company's stock were exchanged, compared to its average volume of 4,411,846. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The company has a market capitalization of $91.51 billion, a P/E ratio of 24.42, a PEG ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $43.45 and a 200 day moving average price of $42.08.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on ENB shares. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. TD Securities started coverage on shares of Enbridge in a research note 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.