10,686 Shares in Enbridge Inc $ENB Bought by Leo Wealth LLC

Leo Wealth LLC purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,686 shares of the pipeline company’s stock, valued at approximately $511,000.

A number of other hedge funds have also recently bought and sold shares of ENB. Bank of Nova Scotia raised its stake in shares of Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after buying an additional 5,157,030 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Enbridge by 38.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock worth $599,556,000 after acquiring an additional 3,687,334 shares during the period. Raymond James Financial Inc. grew its stake in shares of Enbridge by 43.7% during the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after acquiring an additional 2,016,674 shares during the period. Vanguard Group Inc. increased its holdings in Enbridge by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock worth $4,959,009,000 after acquiring an additional 1,892,491 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Enbridge in the 3rd quarter worth about $88,407,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 1.3%

ENB opened at $54.41 on Wednesday. The firm has a market capitalization of $118.74 billion, a P/E ratio of 23.66 and a beta of 0.63. Enbridge Inc has a one year low of $39.80 and a one year high of $55.44. The company has a fifty day moving average price of $52.71 and a 200-day moving average price of $49.48. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The company had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the company earned $0.75 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada upped their price target on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.