Northstar Advisory Group LLC Purchases New Holdings in Enbridge Inc $ENB

Key Points

• Northstar Advisory Group LLC acquired 6,460 shares of Enbridge Inc, valued at approximately $293,000, as reported in a recent 13F filing with the SEC in the second quarter.
• Enbridge reported $0.47 earnings per share for the last quarter, exceeding the consensus estimate of $0.41, with a total revenue of $7.14 billion.
• The company announced an increased quarterly dividend of $0.6839 per share, resulting in a 5.6% dividend yield for shareholders.

Northstar Advisory Group LLC purchased a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,460 shares of the pipeline company's stock, valued at approximately $293,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after buying an additional 25,071 shares in the last quarter. Hartline Investment Corp boosted its stake in shares of Enbridge by 31.3% during the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock worth $1,600,000 after acquiring an additional 8,610 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Enbridge by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock worth $48,806,000 after acquiring an additional 7,890 shares in the last quarter. JBR Co Financial Management Inc bought a new stake in shares of Enbridge during the 1st quarter worth about $330,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Enbridge by 0.8% during the 1st quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company's stock worth $190,532,000 after acquiring an additional 35,515 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

NYSE ENB opened at $49.11 on Monday. 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 firm has a market capitalization of $107.10 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 4.49 and a beta of 0.80. The company's fifty day moving average is $46.65 and its two-hundred day moving average is $45.41. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $49.11.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued 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 net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period in the previous year, the business earned $0.58 EPS. Equities research analysts forecast that Enbridge Inc will post 2.14 EPS 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 given a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Argus lifted their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Zacks Research upgraded shares of Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

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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