Wealth Enhancement Advisory Services LLC raised its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 11.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 486,910 shares of the pipeline company's stock after acquiring an additional 48,353 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Enbridge were worth $21,787,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Dagco Inc. bought a new stake in Enbridge in the 1st quarter valued at approximately $25,000. Garde Capital Inc. bought a new stake in Enbridge in the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC bought a new stake in Enbridge in the 1st quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC lifted its stake in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. Institutional investors own 54.60% of the company's stock.
Enbridge Stock Performance
Shares of NYSE ENB opened at $49.49 on Friday. 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 stock's fifty day moving average price is $47.14 and its two-hundred day moving average price is $45.62. Enbridge Inc has a one year low of $39.73 and a one year high of $49.55. The firm has a market cap of $107.93 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 4.52 and a beta of 0.80.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS 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 firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period in the prior year, the firm posted $0.58 EPS. On average, equities analysts forecast that Enbridge Inc will post 2.14 EPS 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 issued a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. Enbridge's payout ratio is currently 134.98%.
Analyst Ratings Changes
ENB has been the topic of several research reports. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday. Zacks Research lowered Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and an average target price of $60.50.
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About Enbridge
(
Free Report)
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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