Enbridge Inc $ENB Shares Purchased by 49 Wealth Management LLC

49 Wealth Management LLC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,826 shares of the pipeline company’s stock after acquiring an additional 2,060 shares during the period. 49 Wealth Management LLC’s holdings in Enbridge were worth $763,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in shares of Enbridge in the fourth quarter worth $261,000. Alps Advisors Inc. lifted its holdings in Enbridge by 40.1% in the first quarter. Alps Advisors Inc. now owns 17,994 shares of the pipeline company’s stock worth $797,000 after purchasing an additional 5,147 shares during the period. Cerity Partners LLC lifted its holdings in Enbridge by 5.9% in the first quarter. Cerity Partners LLC now owns 229,873 shares of the pipeline company’s stock worth $10,186,000 after purchasing an additional 12,758 shares during the period. Kathmere Capital Management LLC grew its position in Enbridge by 19.9% in the 1st quarter. Kathmere Capital Management LLC now owns 5,822 shares of the pipeline company’s stock valued at $258,000 after buying an additional 968 shares in the last quarter. Finally, TruNorth Capital Management LLC grew its position in Enbridge by 132.2% in the 1st quarter. TruNorth Capital Management LLC now owns 2,863 shares of the pipeline company’s stock valued at $127,000 after buying an additional 1,630 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ENB shares. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

NYSE ENB opened at $47.69 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $104.00 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a 50 day moving average price of $48.28 and a two-hundred day moving average price of $46.77. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is currently 132.02%.

Enbridge 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.