Geneos Wealth Management Inc. Has $863,000 Stock Holdings in Enbridge Inc $ENB

Geneos Wealth Management Inc. raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,478 shares of the pipeline company’s stock after purchasing an additional 2,243 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Enbridge were worth $863,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after purchasing an additional 1,569,879 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company’s stock valued at $1,737,602,000 after acquiring an additional 513,058 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after acquiring an additional 19,074,827 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 18,880,985 shares of the pipeline company’s stock valued at $800,507,000 after acquiring an additional 319,435 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock opened at $49.11 on Friday. The stock has a 50-day moving average price of $46.65 and a 200-day moving average price of $45.38. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $49.11. 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 firm has a market cap of $107.10 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 4.46 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $10.56 billion. During the same period last year, the company posted $0.58 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. This is a boost 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 5.6%. Enbridge’s dividend payout ratio is 134.98%.

Wall Street Analyst Weigh In

ENB has been the topic of several recent research reports. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Argus raised their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Zacks Research raised Enbridge from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Saturday. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average price target of $60.50.

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.