Perigon Wealth Management LLC Has $307,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Perigon Wealth Management LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 25.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,513 shares of the pipeline company’s stock after purchasing an additional 1,728 shares during the period. Perigon Wealth Management LLC’s holdings in Enbridge were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Enbridge by 109,143.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after purchasing an additional 48,423,715 shares in the last quarter. Wellington Management Group LLP increased its holdings in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Enbridge by 2.2% in the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after acquiring an additional 664,057 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Enbridge by 5.1% in the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after acquiring an additional 1,353,753 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

Enbridge stock opened at $32.97 on Wednesday. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The business’s 50 day simple moving average is $35.05 and its 200 day simple moving average is $34.66. The company has a market cap of $70.09 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.21 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Sell-side analysts forecast that Enbridge Inc. will post 2.13 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.