Trajan Wealth LLC Acquires 35,523 Shares of Enbridge Inc (NYSE:ENB)

Key Points

• Trajan Wealth LLC increased its holdings in Enbridge Inc by 5.9%, acquiring an additional 35,523 shares in the first quarter, which now represent about 1.5% of their investment portfolio.
• Enbridge recently announced a dividend increase to $0.6839 per share, marking a yield of 5.8%, with a payout ratio currently at 133.99%.
• Analysts maintain a "Moderate Buy" consensus on Enbridge, with an average price target of $67.00, reflecting strong institutional interest and optimism about the company's performance.

Trajan Wealth LLC lifted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 638,885 shares of the pipeline company's stock after purchasing an additional 35,523 shares during the quarter. Enbridge accounts for approximately 1.5% of Trajan Wealth LLC's investment portfolio, making the stock its 15th biggest holding. Trajan Wealth LLC's holdings in Enbridge were worth $28,309,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ENB. Brighton Jones LLC bought a new stake in shares of Enbridge in the fourth quarter worth $261,000. Rockefeller Capital Management L.P. lifted its position in shares of Enbridge by 11.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 296,126 shares of the pipeline company's stock worth $12,564,000 after purchasing an additional 30,452 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Enbridge in the fourth quarter worth $709,000. Bragg Financial Advisors Inc raised its position in Enbridge by 17.3% during the fourth quarter. Bragg Financial Advisors Inc now owns 8,597 shares of the pipeline company's stock worth $365,000 after acquiring an additional 1,271 shares in the last quarter. Finally, SageView Advisory Group LLC bought a new stake in Enbridge during the fourth quarter worth $240,000. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ENB shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $47.51 on Tuesday. Enbridge Inc has a one year low of $38.44 and a one year high of $47.62. The company has a market cap of $103.60 billion, a P/E ratio of 23.41, a P/E/G ratio of 4.32 and a beta of 0.79. The firm's fifty day moving average price is $45.49 and its two-hundred day moving average price is $44.65. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS 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 firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the previous year, the company earned $0.58 earnings per share. Equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio is presently 133.99%.

Enbridge Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.