Sagespring Wealth Partners LLC Invests $709,000 in Enbridge Inc. (NYSE:ENB)

Sagespring Wealth Partners LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel reports. The firm bought 16,713 shares of the pipeline company’s stock, valued at approximately $709,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in Enbridge in the 4th quarter valued at approximately $29,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $43.99 on Tuesday. The company has a market capitalization of $95.86 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 3.92 and a beta of 0.80. The company has a 50-day moving average of $43.14 and a 200-day moving average of $42.69. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12. 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) (TSE:ENB) last released its quarterly earnings data 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. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate 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.