Shrier Wealth Management LLC Invests $3.92 Million in Enbridge Inc $ENB

Shrier Wealth Management LLC bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 81,992 shares of the pipeline company’s stock, valued at approximately $3,922,000. Enbridge comprises about 1.5% of Shrier Wealth Management LLC’s portfolio, making the stock its 16th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tsfg LLC increased 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 purchasing an additional 379 shares in the last quarter. Triumph Capital Management purchased a new stake in Enbridge during the third quarter valued at about $26,000. Highline Wealth Partners LLC lifted its stake in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new position in shares of Enbridge in the third quarter worth about $28,000. Finally, True Wealth Design LLC boosted its holdings in shares of Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Royal Bank Of Canada lifted their price target on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $54.11 on Wednesday. The firm has a market cap of $118.08 billion, a price-to-earnings ratio of 23.53 and a beta of 0.67. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $55.44. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The business has a fifty day simple moving average of $52.08 and a 200 day simple moving average of $49.31.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results 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 return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

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.