Revisor Wealth Management LLC Makes New Investment in Enbridge Inc $ENB

Key Points

• Revisor Wealth Management LLC has made a new investment in Enbridge Inc, purchasing 19,596 shares valued at approximately $872,000.
• Enbridge has recently increased its quarterly dividend to $0.6839, representing a 5.6% yield, with a payout ratio of 134.98%.
• Analysts have adjusted their price targets for Enbridge, with a consensus target price of $60.50, highlighting a mix of buy and hold ratings from various research firms.

Revisor Wealth Management LLC purchased a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,596 shares of the pipeline company's stock, valued at approximately $872,000.

A number of other large investors also recently added to or reduced their stakes in the company. CGN Advisors LLC lifted its stake in Enbridge by 0.8% during the second quarter. CGN Advisors LLC now owns 70,552 shares of the pipeline company's stock worth $3,197,000 after purchasing an additional 584 shares in the last quarter. CHICAGO TRUST Co NA increased its position in shares of Enbridge by 28.9% during the second quarter. CHICAGO TRUST Co NA now owns 6,683 shares of the pipeline company's stock worth $303,000 after acquiring an additional 1,498 shares during the period. AdvisorNet Financial Inc increased its position in shares of Enbridge by 7.1% during the second quarter. AdvisorNet Financial Inc now owns 7,603 shares of the pipeline company's stock worth $345,000 after acquiring an additional 501 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in shares of Enbridge by 1.8% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 177,389 shares of the pipeline company's stock worth $8,039,000 after acquiring an additional 3,080 shares during the period. Finally, Pacifica Partners Inc. increased its position in shares of Enbridge by 12.4% during the second quarter. Pacifica Partners Inc. now owns 74,228 shares of the pipeline company's stock worth $3,330,000 after acquiring an additional 8,205 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.5%

Shares of ENB opened at $49.21 on Tuesday. The firm has a market cap of $107.31 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 4.52 and a beta of 0.80. The company's fifty day moving average is $47.22 and its two-hundred day moving average is $45.70. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $49.60. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly 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. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the business earned $0.58 EPS. Analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. 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. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is presently 134.98%.

Analysts Set New Price Targets

ENB has been the topic of a number of recent research reports. Argus upped their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday. Zacks Research downgraded shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group upgraded shares of 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 five have assigned a Hold rating to the company. According to MarketBeat, Enbridge presently has an average 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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