Trajan Wealth LLC Purchases 65,874 Shares of Enbridge Inc $ENB

Trajan Wealth LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.2% in the 4th quarter, Holdings Channel reports. The firm owned 870,135 shares of the pipeline company’s stock after acquiring an additional 65,874 shares during the quarter. Enbridge accounts for approximately 1.7% of Trajan Wealth LLC’s portfolio, making the stock its 15th largest position. Trajan Wealth LLC’s holdings in Enbridge were worth $41,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bank of Nova Scotia boosted its position in shares of Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after acquiring an additional 5,157,030 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Raymond James Financial Inc. grew its position in 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 acquiring an additional 2,016,674 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Enbridge during the 3rd quarter worth approximately $88,407,000. Finally, Kayne Anderson Capital Advisors LP grew its position in Enbridge by 48.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock worth $232,477,000 after acquiring an additional 1,508,300 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.6%

Shares of NYSE:ENB opened at $57.13 on Thursday. The stock has a fifty day simple moving average of $54.04 and a two-hundred day simple moving average of $50.63. The stock has a market capitalization of $124.76 billion, a price-to-earnings ratio of 26.82 and a beta of 0.59. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $57.49. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts anticipate that Enbridge Inc will post 2.17 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.8%. Enbridge’s payout ratio is presently 133.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ENB shares. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average price target of $66.50.

About Enbridge

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.