Enbridge Inc $ENB Stock Holdings Boosted by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 60.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,826 shares of the pipeline company’s stock after buying an additional 18,381 shares during the quarter. Enbridge accounts for 1.1% of McAlvany Wealth Management LLC’s portfolio, making the stock its 28th largest position. McAlvany Wealth Management LLC’s holdings in Enbridge were worth $2,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Trust Co LLC boosted its position in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 267 shares during the period. GK Wealth Management LLC bought a new position in shares of Enbridge during the 3rd quarter valued at $25,000. Quintet Private Bank Europe S.A. raised its holdings in Enbridge by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after buying an additional 300 shares in the last quarter. City Holding Co. lifted its holdings in Enbridge by 121.5% in the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock worth $35,000 after purchasing an additional 356 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in shares of Enbridge by 99.7% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company’s stock worth $37,000 after buying an additional 345 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. The Goldman Sachs Group assumed coverage on Enbridge in a research report on Wednesday, September 30th. They set a “neutral” rating and a $50.00 price objective for the company. BMO Capital Markets upgraded Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 price objective on the stock in a research note on Monday, September 14th. Scotiabank upgraded shares of Enbridge to a “strong-buy” rating in a research report on Thursday, September 17th. Royal Bank Of Canada raised their price target on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.88.

Enbridge Stock Down 0.5%

ENB stock opened at $49.20 on Tuesday. Enbridge Inc has a fifty-two week low of $45.03 and a fifty-two week high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The business has a 50-day moving average of $48.25 and a 200-day moving average of $52.16. The stock has a market capitalization of $109.66 billion, a P/E ratio of 22.79, a P/E/G ratio of 5.83 and a beta of 0.60.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period last year, the company earned $0.65 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc will post 2.08 earnings per share for the current fiscal year.

Enbridge Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.