Independent Solutions Wealth Management LLC Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Independent Solutions Wealth Management LLC boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,519 shares of the pipeline company’s stock after buying an additional 359 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Enbridge were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ENB. AllSquare Wealth Management LLC raised its stake in Enbridge by 2.0% in the 4th quarter. AllSquare Wealth Management LLC now owns 15,150 shares of the pipeline company’s stock valued at $643,000 after acquiring an additional 300 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Enbridge by 875.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 80,714 shares of the pipeline company’s stock valued at $3,425,000 after purchasing an additional 72,441 shares during the period. Holderness Investments Co. raised its position in shares of Enbridge by 3.0% in the fourth quarter. Holderness Investments Co. now owns 24,514 shares of the pipeline company’s stock valued at $1,040,000 after purchasing an additional 713 shares during the period. HUB Investment Partners LLC boosted its holdings in Enbridge by 2,621.4% in the 4th quarter. HUB Investment Partners LLC now owns 167,992 shares of the pipeline company’s stock worth $7,128,000 after buying an additional 161,819 shares during the period. Finally, Whittier Trust Co. grew its stake in Enbridge by 9.1% in the 4th quarter. Whittier Trust Co. now owns 13,372 shares of the pipeline company’s stock valued at $567,000 after buying an additional 1,111 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 1.1 %

ENB opened at $44.21 on Friday. The firm has a market capitalization of $96.34 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78. The company has a fifty day moving average price of $43.45 and a 200-day moving average price of $42.31. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the business earned $0.64 earnings per share. Equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ENB. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $67.00.

About Enbridge

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.