Viewpoint Investment Partners Corp Buys 20,136 Shares of Enbridge Inc $ENB

Viewpoint Investment Partners Corp increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 184,700 shares of the pipeline company’s stock after purchasing an additional 20,136 shares during the period. Enbridge accounts for 2.7% of Viewpoint Investment Partners Corp’s investment portfolio, making the stock its 6th largest position. Viewpoint Investment Partners Corp’s holdings in Enbridge were worth $8,455,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its stake in Enbridge by 5.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 130,285 shares of the pipeline company’s stock worth $6,057,000 after purchasing an additional 6,625 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of Enbridge by 2.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 17,377 shares of the pipeline company’s stock valued at $808,000 after buying an additional 366 shares during the period. Evergreen Capital Management LLC increased its position in shares of Enbridge by 2.9% during the third quarter. Evergreen Capital Management LLC now owns 132,393 shares of the pipeline company’s stock valued at $6,155,000 after buying an additional 3,766 shares during the period. Tectonic Advisors LLC increased its position in shares of Enbridge by 7.4% during the third quarter. Tectonic Advisors LLC now owns 354,389 shares of the pipeline company’s stock valued at $16,476,000 after buying an additional 24,314 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of Enbridge by 1.3% in the third quarter. Farmers & Merchants Investments Inc. now owns 296,817 shares of the pipeline company’s stock worth $13,799,000 after buying an additional 3,932 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB opened at $48.28 on Tuesday. The firm has a market capitalization of $107.61 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 5.75 and a beta of 0.60. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The stock has a fifty day moving average of $48.49 and a 200 day moving average of $52.07. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. During the same period in the prior year, the company earned $0.65 EPS. On average, research analysts expect that Enbridge Inc will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ENB shares. The Goldman Sachs Group began coverage on shares of Enbridge in a research report on Wednesday, September 30th. They issued a “neutral” rating and a $50.00 price objective for the company. Wolfe Research set a $50.00 price objective on shares of Enbridge in a research note on Tuesday, August 4th. Royal Bank Of Canada upped their target price on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Raymond James Financial reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, September 15th. Finally, TD raised shares of Enbridge to a “buy” rating in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average price target of $65.88.

Enbridge Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.