Leo Wealth LLC Buys Shares of 10,686 Enbridge Inc $ENB

Leo Wealth LLC purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,686 shares of the pipeline company’s stock, valued at approximately $511,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Westwood Holdings Group Inc. raised its holdings in shares of Enbridge by 83.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after buying an additional 1,044,093 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Enbridge by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after buying an additional 221,976 shares in the last quarter. Trajan Wealth LLC boosted its stake in Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after buying an additional 106,784 shares in the last quarter. Principal Financial Group Inc. grew its position in Enbridge by 7.7% during the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after acquiring an additional 24,165 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its position in Enbridge by 5.7% during the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company’s stock valued at $48,026,000 after acquiring an additional 51,645 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ENB shares. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday. Seven investment 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Trading Up 1.3%

NYSE ENB opened at $54.41 on Wednesday. The stock has a market cap of $118.74 billion, a P/E ratio of 23.66 and a beta of 0.63. Enbridge Inc has a fifty-two week low of $39.80 and a fifty-two week high of $55.44. The stock has a 50 day simple moving average of $52.71 and a two-hundred day simple moving average of $49.48. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the previous year, the firm earned $0.75 earnings per share. On average, analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

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.