CIBC Private Wealth Group LLC Has $20.20 Million Holdings in Enbridge Inc. (NYSE:ENB)

CIBC Private Wealth Group LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 458,916 shares of the pipeline company’s stock after buying an additional 4,906 shares during the period. CIBC Private Wealth Group LLC’s holdings in Enbridge were worth $20,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after buying an additional 9,621,425 shares in the last quarter. Maridea Wealth Management LLC acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $678,000. Orion Portfolio Solutions LLC grew its holdings in shares of Enbridge by 8.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 50,021 shares of the pipeline company’s stock worth $2,122,000 after purchasing an additional 3,754 shares in the last quarter. Premier Fund Managers Ltd increased its position in shares of Enbridge by 85.9% during the fourth quarter. Premier Fund Managers Ltd now owns 278,800 shares of the pipeline company’s stock valued at $11,724,000 after purchasing an additional 128,800 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Enbridge by 10.6% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,439,951 shares of the pipeline company’s stock valued at $61,097,000 after purchasing an additional 137,819 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of several analyst reports. Royal Bank of Canada boosted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Down 0.5 %

Shares of NYSE ENB opened at $44.23 on Tuesday. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $45.78. 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 business has a fifty day moving average of $43.49 and a two-hundred day moving average of $42.53. The stock has a market cap of $96.37 billion, a PE ratio of 25.71, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm posted $0.64 EPS. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Company 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.