Axxcess Wealth Management LLC Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Axxcess Wealth Management LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,952 shares of the pipeline company’s stock after purchasing an additional 1,247 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Enbridge were worth $2,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in Enbridge in the fourth quarter worth approximately $55,000. 1ST Source Bank boosted its stake in Enbridge by 6.7% in the fourth quarter. 1ST Source Bank now owns 20,698 shares of the pipeline company’s stock worth $878,000 after buying an additional 1,295 shares in the last quarter. Signaturefd LLC boosted its stake in Enbridge by 9.5% in the fourth quarter. Signaturefd LLC now owns 44,595 shares of the pipeline company’s stock worth $1,892,000 after buying an additional 3,878 shares in the last quarter. Parallel Advisors LLC boosted its stake in Enbridge by 7.8% in the fourth quarter. Parallel Advisors LLC now owns 20,329 shares of the pipeline company’s stock worth $863,000 after buying an additional 1,463 shares in the last quarter. Finally, SouthState Corp boosted its stake in Enbridge by 18.9% in the fourth quarter. SouthState Corp now owns 2,720 shares of the pipeline company’s stock worth $115,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $43.73 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The stock has a 50 day moving average price of $43.45 and a two-hundred day moving average price of $42.30. The company has a market capitalization of $95.28 billion, a P/E ratio of 25.42, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the company posted $0.64 earnings per share. Analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Company Profile

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.