Integrity Alliance LLC. Purchases Shares of 11,674 Enbridge Inc $ENB

Key Points

• Integrity Alliance LLC has acquired a new stake in Enbridge Inc by purchasing 11,674 shares valued at approximately $517,000 during the first quarter.
• Enbridge recently raised its quarterly dividend to $0.6839 per share, resulting in an annualized rate of $2.74 and a yield of 5.6%.
• Wall Street analysts are optimistic about Enbridge's performance, with a consensus rating of "Moderate Buy" and a price target of $60.50, following several upgrades in ratings from various firms.

Integrity Alliance LLC. purchased a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the first quarter, according to its most recent filing with the SEC. The fund purchased 11,674 shares of the pipeline company's stock, valued at approximately $517,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dagco Inc. bought a new stake in Enbridge in the 1st quarter valued at $25,000. Garde Capital Inc. bought a new stake 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 $28,000. Accent Capital Management LLC bought a new stake in Enbridge in the 1st quarter valued at $30,000. Finally, Wolff Wiese Magana LLC increased its holdings 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 during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Argus lifted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Price Performance

ENB stock opened at $49.11 on Friday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $49.11. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a 50-day moving average price of $46.65 and a 200 day moving average price of $45.36. The stock has a market cap of $107.10 billion, a PE ratio of 24.19, a P/E/G ratio of 4.46 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same period in the previous year, the company earned $0.58 EPS. Equities 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 was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is 134.98%.

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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