B. Riley Wealth Advisors Inc. Takes $559,000 Position in Enbridge Inc $ENB

B. Riley Wealth Advisors Inc. acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,336 shares of the pipeline company’s stock, valued at approximately $559,000.

A number of other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC grew its position in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Enbridge during the second quarter valued at about $29,000. Twin Peaks Wealth Advisors LLC acquired a new position in Enbridge in the 2nd quarter valued at approximately $31,000. Addison Advisors LLC bought a new position in Enbridge in the second quarter worth $35,000. Finally, FNY Investment Advisers LLC bought a new stake in Enbridge in the second quarter valued at about $36,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 2.0%

ENB opened at $46.71 on Wednesday. The company has a 50-day simple moving average of $47.64 and a 200 day simple moving average of $47.17. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The stock has a market capitalization of $101.88 billion, a price-to-earnings ratio of 25.66 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same quarter in the prior year, the firm earned $0.55 EPS. Analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.3%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is presently 147.80%.

Analyst Ratings Changes

A number of research firms recently weighed in on ENB. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Enbridge in a report on Monday. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.