WCG Wealth Advisors LLC Acquires New Position in Enbridge Inc $ENB

WCG Wealth Advisors LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,994 shares of the pipeline company’s stock, valued at approximately $1,435,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Enbridge by 2.1% in the fourth 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 in the last quarter. TD Asset Management Inc increased its position in shares of Enbridge by 0.3% in the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after acquiring an additional 137,897 shares in the last quarter. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter worth $1,195,559,000. Geode Capital Management LLC increased its position in shares of Enbridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after acquiring an additional 1,415,995 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Enbridge by 4.6% in the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after acquiring an additional 858,323 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ENB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Trading Down 0.7%

Enbridge stock opened at $56.34 on Friday. The firm’s 50-day moving average is $54.65 and its 200-day moving average is $51.37. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a market cap of $123.04 billion, a P/E ratio of 26.45 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating 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 EPS. On average, equities analysts expect that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

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.