Inspire Advisors LLC Invests $494,000 in Enbridge Inc (NYSE:ENB)

Key Points

• Inspire Advisors LLC has invested approximately $494,000 in Enbridge Inc by acquiring 11,145 shares during the first quarter of the year.
• Several institutional investors, including HB Wealth Management LLC, have increased their holdings, with institutional investors now owning 54.60% of Enbridge's stock.
• Analysts have generally upgraded Enbridge's rating, with a consensus target price set at $67.00, reflecting a positive outlook for the company's performance.

Inspire Advisors LLC acquired a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,145 shares of the pipeline company's stock, valued at approximately $494,000.

A number of other institutional investors also recently modified their holdings of the stock. Atlantic Family Wealth LLC raised its holdings in shares of Enbridge by 9.0% during the 1st quarter. Atlantic Family Wealth LLC now owns 8,292 shares of the pipeline company's stock valued at $367,000 after purchasing an additional 685 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Enbridge by 4.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 935,190 shares of the pipeline company's stock worth $41,384,000 after acquiring an additional 35,934 shares during the period. Bearing Point Capital LLC raised its holdings in Enbridge by 2.7% in the 1st quarter. Bearing Point Capital LLC now owns 43,745 shares of the pipeline company's stock worth $1,938,000 after acquiring an additional 1,165 shares during the period. HB Wealth Management LLC raised its holdings in Enbridge by 55.4% in the 1st quarter. HB Wealth Management LLC now owns 21,654 shares of the pipeline company's stock worth $959,000 after acquiring an additional 7,721 shares during the period. Finally, TD Asset Management Inc raised its holdings in Enbridge by 1.3% in the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after acquiring an additional 513,058 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

NYSE:ENB traded up $0.48 on Friday, reaching $45.77. The stock had a trading volume of 2,348,304 shares, compared to its average volume of 3,994,781. The company has a market capitalization of $99.80 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 4.19 and a beta of 0.79. Enbridge Inc has a 1-year low of $36.50 and a 1-year high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average price of $45.39 and a 200-day moving average price of $44.54.

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 for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

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

Analyst Upgrades and Downgrades

ENB has been the topic of several recent analyst reports. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.