Leo Wealth LLC Acquires New Stake in Enbridge Inc $ENB

Key Points

• Leo Wealth LLC has acquired a new stake in Enbridge Inc, purchasing 10,534 shares valued at approximately $477,000 during the second quarter.
• Enbridge announced a quarterly dividend increase to $0.6839 per share, representing a 5.7% yield, while maintaining a payout ratio of 134.98%.
• Analysts have mixed ratings on Enbridge, with CIBC downgrading the stock to "neutral" while Argus raised its price target to $54.00 and maintained a "buy" rating.

Leo Wealth LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,534 shares of the pipeline company's stock, valued at approximately $477,000.

Several other hedge funds also recently modified their holdings of ENB. Dagco Inc. acquired a new position in Enbridge during the first quarter worth about $25,000. Garde Capital Inc. acquired a new position in shares of Enbridge in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enbridge in the 1st quarter worth approximately $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge in the 1st quarter worth approximately $30,000. Finally, Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after buying an additional 365 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $48.01 on Friday. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. 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 market capitalization of $104.70 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 4.49 and a beta of 0.78. The stock's fifty day simple moving average is $48.38 and its 200-day simple moving average is $46.23.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the previous year, the business posted $0.58 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal 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 given a dividend of $0.6839 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. Enbridge's payout ratio is presently 134.98%.

Analysts Set New Price Targets

ENB has been the topic of several recent research reports. CIBC lowered shares of Enbridge from an "outperform" rating to a "neutral" rating in a research report on Thursday. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Argus lifted their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Enbridge currently 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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