Meriwether Wealth & Planning LLC Invests $417,000 in Enbridge Inc. (NYSE:ENB)

Meriwether Wealth & Planning LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,833 shares of the pipeline company’s stock, valued at approximately $417,000.

Several other large investors also recently added to or reduced their stakes in ENB. Swiss National Bank boosted its position in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after buying an additional 207,200 shares during the period. Metis Global Partners LLC boosted its holdings in shares of Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after purchasing an additional 7,986 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in shares of Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after acquiring an additional 319,907 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after purchasing an additional 49,800 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

ENB has been the subject of a number of recent analyst reports. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $42.00 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market cap of $91.51 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a 50 day moving average price of $43.45 and a 200-day moving average price of $42.13. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

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.