Independent Solutions Wealth Management LLC Has $1.51 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Independent Solutions Wealth Management LLC increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,519 shares of the pipeline company’s stock after buying an additional 359 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Enbridge were worth $1,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT bought a new stake in Enbridge during the 4th quarter valued at $29,000. Wintrust Investments LLC increased its stake in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Enbridge during the third quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its stake 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 buying an additional 580 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Up 1.1 %

Shares of ENB stock opened at $44.21 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market capitalization of $96.34 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $45.78. The company has a 50-day simple moving average of $43.45 and a two-hundred day simple moving average of $42.31.

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