CW Advisors LLC Boosts Stock Position in Enbridge Inc $ENB

Key Points

• CW Advisors LLC significantly increased its stake in Enbridge Inc by 119.5%, acquiring a total of 16,829 shares valued at $745,000.
• Enbridge recently declared a quarterly dividend of $0.6839, up from its previous dividend of $0.68, representing a dividend yield of 5.8%.
• Several brokerages have upgraded Enbridge's stock rating, with Zacks Research moving it from "hold" to "strong-buy," indicating positive sentiment from analysts.

CW Advisors LLC raised its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 119.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,829 shares of the pipeline company's stock after purchasing an additional 9,162 shares during the quarter. CW Advisors LLC's holdings in Enbridge were worth $745,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Summit Financial LLC grew its stake in Enbridge by 1.9% during the 1st quarter. Summit Financial LLC now owns 23,585 shares of the pipeline company's stock valued at $1,045,000 after purchasing an additional 439 shares during the last quarter. Candriam S.C.A. grew its stake in Enbridge by 3.4% during the 1st quarter. Candriam S.C.A. now owns 15,898 shares of the pipeline company's stock valued at $704,000 after purchasing an additional 519 shares during the last quarter. Credit Agricole S A grew its stake in Enbridge by 0.8% during the 1st quarter. Credit Agricole S A now owns 52,722 shares of the pipeline company's stock valued at $2,336,000 after purchasing an additional 437 shares during the last quarter. Legacy Financial Advisors Inc. grew its stake in Enbridge by 21.1% during the 1st quarter. Legacy Financial Advisors Inc. now owns 17,391 shares of the pipeline company's stock valued at $771,000 after purchasing an additional 3,034 shares during the last quarter. Finally, Colonial Trust Advisors boosted its stake in shares of Enbridge by 4.4% in the first quarter. Colonial Trust Advisors now owns 18,585 shares of the pipeline company's stock worth $823,000 after buying an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

NYSE:ENB opened at $47.43 on Wednesday. Enbridge Inc has a one year low of $39.26 and a one year high of $48.29. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market cap of $103.43 billion, a PE ratio of 23.37, a P/E/G ratio of 4.35 and a beta of 0.79. The stock has a 50 day moving average price of $45.75 and a 200 day moving average price of $44.91.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.6839 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is 134.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENB. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

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.

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