Enbridge Inc $ENB Shares Bought by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its Enbridge stake by 26.0% in the first quarter, buying 30,874 more shares and bringing its total holdings to 149,717 shares worth about $8.1 million.
• Institutional ownership remains significant, with hedge funds and other investors holding 54.60% of Enbridge’s stock, and several other firms also added modestly to their positions.
• Analysts remain cautiously positive: Enbridge has a consensus rating of “Moderate Buy” with a $66.50 price target, while the company also posted quarterly earnings and revenue above expectations and pays a high dividend yield of 7.0%.

Kestra Advisory Services LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 26.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,717 shares of the pipeline company's stock after purchasing an additional 30,874 shares during the period. Kestra Advisory Services LLC's holdings in Enbridge were worth $8,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. PFG Investments LLC lifted its stake in Enbridge by 0.9% during the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company's stock valued at $1,202,000 after purchasing an additional 202 shares during the last quarter. MIdWestOne Financial Group Inc. increased its holdings in shares of Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company's stock valued at $235,000 after buying an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Enbridge by 1.1% in the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company's stock valued at $891,000 after buying an additional 205 shares in the last quarter. Arete Wealth Advisors LLC lifted its position in shares of Enbridge by 4.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company's stock valued at $235,000 after acquiring an additional 208 shares during the last quarter. Finally, Blue Fin Capital Inc. lifted its position in shares of Enbridge by 1.3% during the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company's stock valued at $767,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ENB shares. Royal Bank Of Canada lifted their target price on Enbridge from $76.00 to $79.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a report on Friday, May 22nd. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Sunday. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Scotiabank restated an "outperform" rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.50.

Enbridge Stock Performance

Shares of Enbridge stock opened at $55.08 on Tuesday. Enbridge Inc has a 12 month low of $44.37 and a 12 month high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The stock has a market cap of $120.29 billion, a PE ratio of 25.86 and a beta of 0.58. The business has a fifty day simple moving average of $55.47 and a 200-day simple moving average of $52.75.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the prior year, the business earned $1.03 EPS. On average, sell-side analysts anticipate that Enbridge Inc will post 2.15 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge's dividend payout ratio (DPR) is currently 133.80%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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