Berger Financial Group Inc Makes New Investment in Enbridge Inc (NYSE:ENB)

Key Points

• Berger Financial Group Inc has acquired a new position in Enbridge Inc by purchasing 5,744 shares valued at approximately $255,000 during the first quarter.
• Enbridge recently reported a quarterly earnings per share of $0.47, surpassing analysts' estimates of $0.41, with a net margin of 10.11% and revenue of $7.14 billion.
• The company announced an increase in its quarterly dividend to $0.6839, representing an annualized dividend of $2.74 and a yield of 5.8%.

Berger Financial Group Inc acquired a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,744 shares of the pipeline company's stock, valued at approximately $255,000.

Several other institutional investors have also modified their holdings of the stock. Garde Capital Inc. acquired a new position in shares of Enbridge during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the 1st quarter valued at about $28,000. Accent Capital Management LLC purchased a new position in shares of Enbridge during the 1st quarter worth about $30,000. GeoWealth Management LLC lifted its holdings in shares of Enbridge by 436.4% during 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 period. Finally, Wolff Wiese Magana LLC increased its position in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after purchasing an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Trading Down 0.5%

Enbridge stock traded down $0.25 during midday trading on Friday, reaching $47.26. The stock had a trading volume of 1,513,798 shares, compared to its average volume of 4,005,485. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 52-week low of $38.49 and a 52-week high of $48.21. The firm has a market cap of $103.04 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 4.36 and a beta of 0.79. The company has a fifty day moving average of $45.54 and a 200 day moving average of $44.71.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the firm earned $0.58 earnings per share. On average, analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.6839 per share. The ex-dividend date is Friday, August 15th. This is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. Enbridge's dividend payout ratio (DPR) is presently 133.99%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ENB. Argus raised shares of Enbridge from a "buy" rating to a "strong-buy" rating and lifted their price target for the company from $50.00 to $54.00 in a report on Tuesday. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.50.

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.