Topsail Wealth Management LLC Acquires Shares of 6,945 Enbridge Inc. (NYSE:ENB)

Topsail Wealth Management LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,945 shares of the pipeline company's stock, valued at approximately $295,000.

Other institutional investors have also modified their holdings of the company. apricus wealth LLC increased its position in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. increased its stake in Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after purchasing an additional 230 shares during the last quarter. Wintrust Investments LLC boosted its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares during the period. Finally, Eagle Bay Advisors LLC boosted its stake in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research reports. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Royal Bank of Canada raised their price target on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Finally, TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Stock Up 0.0 %

Shares of Enbridge stock traded up $0.00 during trading on Tuesday, reaching $46.64. 1,097,954 shares of the company traded hands, compared to its average volume of 4,240,220. The company has a 50 day moving average price of $43.42 and a 200-day moving average price of $43.02. The firm has a market capitalization of $101.68 billion, a PE ratio of 27.12, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $46.85.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 5.82%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's payout ratio is 157.56%.

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.