49 Wealth Management LLC Invests $654,000 in Enbridge Inc (NYSE:ENB)

49 Wealth Management LLC acquired a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,766 shares of the pipeline company's stock, valued at approximately $654,000.

Several other large investors have also made changes to their positions in the business. Capital Investment Counsel Inc lifted its position in shares of Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after acquiring an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Enbridge by 0.7% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after buying an additional 226 shares in the last quarter. Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares in the last quarter. Knuff & Co LLC lifted its position in shares of Enbridge by 12.6% in the fourth quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock worth $96,000 after buying an additional 252 shares in the last quarter. Finally, Hardin Capital Partners LLC lifted its position in shares of Enbridge by 2.7% in the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after buying an additional 252 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Enbridge currently has an average rating of "Hold" and an average target price of $67.00.

Enbridge Trading Up 1.6%

Shares of ENB traded up $0.72 during mid-day trading on Thursday, reaching $44.51. 4,886,530 shares of the company's stock traded hands, compared to its average volume of 3,956,565. The stock has a market cap of $97.05 billion, a P/E ratio of 22.94, a P/E/G ratio of 4.16 and a beta of 0.79. The stock's 50-day moving average is $45.58 and its two-hundred day moving average is $44.29. Enbridge Inc has a 12 month low of $35.34 and a 12 month high of $47.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.10%. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is 140.21%.

About Enbridge

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.