49 Wealth Management LLC bought a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,766 shares of the pipeline company's stock, valued at approximately $654,000.
A number of other hedge funds have also recently modified their holdings of ENB. Garde Capital Inc. bought a new position in Enbridge in the first quarter worth approximately $26,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC raised its stake in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after acquiring an additional 611 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after acquiring an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in Enbridge in the 4th quarter worth $39,000. Institutional investors own 54.60% of the company's stock.
Analyst Ratings Changes
ENB has been the subject of a number of recent research reports. Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Finally, Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $67.00.
Check Out Our Latest Report on ENB
Enbridge Stock Down 0.9%
Shares of ENB stock traded down $0.39 on Wednesday, reaching $43.81. 2,811,918 shares of the stock were exchanged, compared to its average volume of 3,952,842. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The business's 50 day moving average price is $45.63 and its 200 day moving average price is $44.29. The company has a market capitalization of $95.52 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 4.16 and a beta of 0.79. Enbridge Inc has a twelve month low of $35.34 and a twelve month high of $47.44.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. As a group, sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 6.20%. Enbridge's dividend payout ratio is 140.21%.
Enbridge Company Profile
(
Free Report)
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.
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