HB Wealth Management LLC Boosts Stake in Enbridge Inc (NYSE:ENB)

Key Points

• HB Wealth Management LLC increased its stake in Enbridge Inc by 55.4%, holding a total of 21,654 shares valued at approximately $959,000.
• Enbridge has received mixed ratings from analysts, with five holding a buy rating and five rating it as a hold, reflecting a consensus target price of $67.00.
• The company reported $0.72 EPS for the last quarter, exceeding estimates, but its revenue of $7.27 billion fell short of expectations of $10.20 billion.

HB Wealth Management LLC raised its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 55.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,654 shares of the pipeline company's stock after purchasing an additional 7,721 shares during the quarter. HB Wealth Management LLC's holdings in Enbridge were worth $959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garde Capital Inc. bought a new position in Enbridge in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the 1st quarter valued at about $28,000. GeoWealth Management LLC boosted its position in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the period. Wolff Wiese Magana LLC increased its stake in shares of Enbridge by 91.3% in the first 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. Finally, Capital A Wealth Management LLC bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $39,000. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ENB shares. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Up 0.7%

NYSE ENB traded up $0.31 during trading on Thursday, hitting $45.29. The company's stock had a trading volume of 3,489,284 shares, compared to its average volume of 4,006,891. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The company has a market cap of $98.75 billion, a PE ratio of 23.34, a P/E/G ratio of 4.20 and a beta of 0.79. The business's 50 day simple moving average is $45.39 and its 200-day simple moving average is $44.52. Enbridge Inc has a fifty-two week low of $36.50 and a fifty-two week high of $47.44.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's dividend payout ratio is presently 140.21%.

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.