Enbridge Inc $ENB Shares Purchased by Capital Wealth Planning LLC

Capital Wealth Planning LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 60.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,415 shares of the pipeline company’s stock after acquiring an additional 81,320 shares during the quarter. Capital Wealth Planning LLC’s holdings in Enbridge were worth $10,870,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Tsfg LLC lifted its position in shares of Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares in the last quarter. Highline Wealth Partners LLC grew its holdings in Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. True Wealth Design LLC grew its holdings in Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Enbridge during the 2nd quarter worth $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Enbridge in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $54.09 on Friday. The stock has a market capitalization of $118.02 billion, a PE ratio of 23.52 and a beta of 0.67. The business’s fifty day moving average price is $50.21 and its 200 day moving average price is $48.80. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $54.42.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The company had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the prior year, the company earned $0.75 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ENB. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Finally, Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.