Axxcess Wealth Management LLC Acquires 1,247 Shares of 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 fourth quarter, Holdings Channel.com reports. The fund owned 52,952 shares of the pipeline company’s stock after purchasing an additional 1,247 shares during the period. 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 made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in Enbridge in the fourth quarter worth $55,000. 1ST Source Bank grew 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 purchasing an additional 1,295 shares during the period. Signaturefd LLC grew 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 purchasing an additional 3,878 shares during the period. Parallel Advisors LLC grew 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 purchasing an additional 1,463 shares during the period. Finally, SouthState Corp grew 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 purchasing an additional 433 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.7 %

NYSE ENB opened at $43.73 on Thursday. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $45.78. The stock has a market cap of $95.28 billion, a P/E ratio of 25.42, a P/E/G ratio of 3.92 and a beta of 0.95. The stock’s fifty day moving average price is $43.45 and its 200-day moving average price is $42.30. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Enbridge presently has an average 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.