Foundations Investment Advisors LLC Buys 9,298 Shares of Enbridge Inc (NYSE:ENB)

Key Points

• Foundations Investment Advisors LLC increased its stake in Enbridge Inc shares by 16.7%, acquiring a total of 65,140 shares valued at approximately $2.89 million.
• Enbridge reported quarterly earnings of $0.72 EPS, exceeding analysts' expectations, despite a revenue of $7.27 billion which fell short of the estimated $10.20 billion.
• The current consensus rating for Enbridge is a "Moderate Buy" with a price target of $67.00 based on the assessments of several analysts.

Foundations Investment Advisors LLC increased its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,140 shares of the pipeline company's stock after acquiring an additional 9,298 shares during the quarter. Foundations Investment Advisors LLC's holdings in Enbridge were worth $2,886,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Garde Capital Inc. acquired a new stake in shares of Enbridge during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the 1st quarter worth approximately $28,000. GeoWealth Management LLC raised its position 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 purchasing an additional 611 shares during the period. Wolff Wiese Magana LLC raised its position in shares of 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 during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.09 during midday trading on Wednesday, hitting $44.99. The company's stock had a trading volume of 2,642,888 shares, compared to its average volume of 3,757,241. The stock has a market capitalization of $98.10 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 4.20 and a beta of 0.79. The stock's 50 day simple moving average is $45.40 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. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share 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 business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period last year, the business earned $0.92 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 6.08%. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge's payout ratio is presently 140.21%.

Analyst Ratings Changes

ENB has been the subject of a number of recent analyst reports. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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.