Venturi Wealth Management LLC Purchases 514 Shares of Enbridge Inc. (NYSE:ENB)

Venturi Wealth Management LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 103.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,013 shares of the pipeline company’s stock after acquiring an additional 514 shares during the period. Venturi Wealth Management LLC’s holdings in Enbridge were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SVB Wealth LLC lifted its stake in shares of Enbridge by 3.1% during the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock worth $373,000 after buying an additional 297 shares during the last quarter. North Star Investment Management Corp. lifted its stake in shares of Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after buying an additional 300 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of Enbridge by 25.3% during the 3rd quarter. Independence Bank of Kentucky now owns 1,681 shares of the pipeline company’s stock worth $56,000 after buying an additional 339 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after buying an additional 341 shares during the last quarter. Finally, Marino Stram & Associates LLC lifted its stake in shares of Enbridge by 1.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock worth $720,000 after buying an additional 344 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $35.34 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.83 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 firm has a market cap of $75.12 billion, a P/E ratio of 16.83, a P/E/G ratio of 3.36 and a beta of 0.84. The company’s 50-day moving average price is $35.20 and its two-hundred day moving average price is $34.64.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in 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. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.20.

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.