Intrua Financial LLC Has $3.73 Million Holdings in Enbridge Inc $ENB

Key Points

• Intrua Financial LLC has increased its holdings in Enbridge Inc by 8.4%, now owning 84,067 shares worth approximately $3.73 million.
• Enbridge reported earnings per share of $0.47 in its latest quarter, surpassing analysts’ expectations, although its revenue fell short at $7.14 billion.
• The company recently announced a quarterly dividend increase to $0.6839 per share, reflecting a dividend yield of 5.6% and a payout ratio of 134.98%.

Intrua Financial LLC lifted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,067 shares of the pipeline company's stock after buying an additional 6,543 shares during the quarter. Intrua Financial LLC's holdings in Enbridge were worth $3,725,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dagco Inc. acquired a new stake in Enbridge in the first quarter valued at $25,000. Garde Capital Inc. acquired a new position in shares of Enbridge during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at about $28,000. Accent Capital Management LLC acquired a new stake in Enbridge in the 1st quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC grew its holdings in Enbridge by 91.3% during the first 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. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.5%

ENB stock opened at $48.59 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock has a market capitalization of $105.96 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 4.42 and a beta of 0.80. The business's fifty day moving average price is $46.48 and its two-hundred day moving average price is $45.25. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $48.68.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. On average, equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's payout ratio is 134.98%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

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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