Decker Wealth Management LLC Takes $909,000 Position in Enbridge Inc $ENB

Decker Wealth Management LLC purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,795 shares of the pipeline company’s stock, valued at approximately $909,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Enbridge during the fourth quarter valued at $1,195,559,000. Auto Owners Insurance Co increased its stake in shares of Enbridge by 4,683.0% during the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after purchasing an additional 8,387,721 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of Enbridge during the 4th quarter worth about $132,705,000. Vanguard Group Inc. raised its position in shares of Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of Enbridge by 43.7% during the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after purchasing an additional 2,016,674 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday. Royal Bank Of Canada raised their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Price Performance

Shares of NYSE ENB opened at $56.68 on Monday. The firm has a 50-day simple moving average of $55.64 and a 200-day simple moving average of $52.99. The stock has a market capitalization of $123.79 billion, a price-to-earnings ratio of 26.61 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 52 week low of $44.53 and a 52 week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period last year, the firm posted $1.03 earnings per share. On average, equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.