Petros Family Wealth LLC Invests $244,000 in Enbridge Inc $ENB

Petros Family Wealth LLC purchased a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,394 shares of the pipeline company's stock, valued at approximately $244,000.

A number of other large investors have also recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC boosted its holdings in shares of Enbridge by 11.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 14,082 shares of the pipeline company's stock worth $638,000 after acquiring an additional 1,463 shares during the period. O Keefe Stevens Advisory Inc. boosted its holdings in shares of Enbridge by 18.7% in the second quarter. O Keefe Stevens Advisory Inc. now owns 30,843 shares of the pipeline company's stock worth $1,398,000 after acquiring an additional 4,860 shares during the period. Elevate Capital Advisors LLC bought a new position in shares of Enbridge in the second quarter worth $272,000. 111 Capital bought a new position in shares of Enbridge in the second quarter worth $1,887,000. Finally, Ameriflex Group Inc. boosted its holdings in shares of Enbridge by 53.4% in the second quarter. Ameriflex Group Inc. now owns 7,187 shares of the pipeline company's stock worth $324,000 after acquiring an additional 2,501 shares during the period. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of several research analyst reports. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Enbridge in a research note on Saturday, September 27th. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Trading Up 0.8%

NYSE ENB opened at $50.11 on Monday. 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 stock has a 50-day moving average of $48.06 and a 200-day moving average of $46.12. The firm has a market cap of $109.27 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.5%. Enbridge's dividend payout ratio (DPR) is currently 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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