10,528 Shares in Enbridge Inc $ENB Purchased by Bingham Private Wealth LLC

Bingham Private Wealth LLC acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,528 shares of the pipeline company’s stock, valued at approximately $504,000.

Several other hedge funds have also recently bought and sold shares of ENB. Tsfg LLC lifted its stake in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares in the last quarter. Triumph Capital Management purchased a new stake in Enbridge in the 3rd quarter worth about $26,000. Highline Wealth Partners LLC lifted its stake in Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new stake in Enbridge in the 3rd quarter worth about $28,000. Finally, True Wealth Design LLC lifted its stake in Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB stock opened at $52.98 on Wednesday. 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 Inc has a fifty-two week low of $43.59 and a fifty-two week high of $55.44. The stock’s 50-day moving average is $53.22 and its two-hundred day moving average is $49.63. The firm has a market cap of $115.69 billion, a P/E ratio of 23.03 and a beta of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the firm posted $0.75 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ENB shares. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada increased their price objective on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Profile

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.