Waldron Private Wealth LLC Acquires New Shares in Enbridge Inc. (NYSE:ENB)

Waldron Private Wealth LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,953 shares of the pipeline company’s stock, valued at approximately $214,000.

A number of other large investors have also recently made changes to their positions in ENB. Vanguard Group Inc. boosted its stake in Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Moneta Group Investment Advisors LLC grew its stake in Enbridge by 109,143.5% during the fourth 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 acquiring an additional 48,423,715 shares in the last quarter. Wellington Management Group LLP increased its holdings 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 worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. TD Asset Management Inc grew its position in shares of 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 increased its holdings in shares of Enbridge by 5.1% in the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after purchasing an additional 1,353,753 shares during the period. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Enbridge Stock Down 2.3 %

Shares of NYSE:ENB opened at $32.97 on Wednesday. The stock’s 50-day moving average price is $35.05 and its 200-day moving average price is $34.66. 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 market capitalization of $70.09 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS 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 firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. On average, equities analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current year.

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.