Farther Finance Advisors LLC Increases Stock Position in Enbridge Inc. (NYSE:ENB)

Farther Finance Advisors LLC boosted its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 64.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,355 shares of the pipeline company's stock after purchasing an additional 7,992 shares during the quarter. Farther Finance Advisors LLC's holdings in Enbridge were worth $907,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wintrust Investments LLC increased its position in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC increased its position in shares of 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 acquiring an additional 611 shares during the period. Capital A Wealth Management LLC purchased a new position in shares of Enbridge during the fourth quarter worth approximately $39,000. Hopwood Financial Services Inc. purchased a new position in shares of Enbridge during the fourth quarter worth approximately $42,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Enbridge during the fourth quarter worth approximately $47,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of "Hold" and a consensus price target of $67.00.

Enbridge Trading Down 0.4%

NYSE ENB opened at $46.63 on Friday. The company has a fifty day simple moving average of $45.45 and a two-hundred day simple moving average of $43.98. The stock has a market cap of $101.66 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.44. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the company posted $0.92 earnings per share. On average, analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.82%. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

Enbridge 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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