Enbridge Inc $ENB Shares Acquired by Capital Wealth Planning LLC

Capital Wealth Planning LLC increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 60.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,415 shares of the pipeline company’s stock after buying an additional 81,320 shares during the quarter. Capital Wealth Planning LLC’s holdings in Enbridge were worth $10,870,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC boosted its holdings in shares of Enbridge by 1.2% during the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after acquiring an additional 213 shares during the period. HBK Sorce Advisory LLC increased its holdings in shares of Enbridge by 1.8% in the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after acquiring an additional 215 shares during the period. Copperleaf Capital LLC increased its holdings in shares of Enbridge by 3.6% in the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 217 shares during the period. South Plains Financial Inc. lifted its position in Enbridge by 13.2% in the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after purchasing an additional 220 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its position in Enbridge by 2.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 221 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 0.9%

Enbridge stock opened at $54.09 on Friday. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.42. The stock has a market cap of $118.02 billion, a price-to-earnings ratio of 23.52 and a beta of 0.67. The company’s 50-day moving average price is $50.21 and its two-hundred day moving average price is $48.80. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada boosted their price objective on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge 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. According to MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price 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.