Golden State Wealth Management LLC Purchases 12,838 Shares of Enbridge Inc (NYSE:ENB)

Golden State Wealth Management LLC lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 527.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,274 shares of the pipeline company's stock after acquiring an additional 12,838 shares during the quarter. Golden State Wealth Management LLC's holdings in Enbridge were worth $677,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Enbridge by 87.1% during the first quarter. Bessemer Group Inc. now owns 170,097 shares of the pipeline company's stock worth $7,535,000 after acquiring an additional 79,181 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Enbridge by 29.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 585,351 shares of the pipeline company's stock worth $25,937,000 after buying an additional 133,652 shares during the period. TrueMark Investments LLC grew its holdings in shares of Enbridge by 10.7% during the first quarter. TrueMark Investments LLC now owns 205,556 shares of the pipeline company's stock worth $9,108,000 after buying an additional 19,935 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Enbridge by 3.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 371,982 shares of the pipeline company's stock valued at $16,475,000 after buying an additional 10,807 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its stake in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent research reports. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. CIBC restated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has a consensus rating of "Hold" and a consensus price target of $67.00.

Enbridge Stock Up 1.4%

Shares of NYSE:ENB opened at $45.09 on Friday. 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 Inc has a 52-week low of $35.10 and a 52-week high of $47.44. The business's 50 day simple moving average is $45.83 and its two-hundred day simple moving average is $44.10. The firm has a market cap of $98.30 billion, a P/E ratio of 23.24, a PEG ratio of 4.19 and a beta of 0.81.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same quarter last year, the firm earned $0.92 EPS. As a group, research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is presently 140.21%.

About Enbridge

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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