Maridea Wealth Management LLC Makes New Investment in Enbridge Inc $ENB

Maridea Wealth Management LLC purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,912 shares of the pipeline company’s stock, valued at approximately $917,000.

Other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of Enbridge in the 3rd quarter valued at about $26,000. Arlington Trust Co LLC raised its stake in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after buying an additional 267 shares during the period. Turning Point Benefit Group Inc. bought a new position in Enbridge in the third quarter worth approximately $28,000. Inspire Investing LLC bought a new position in Enbridge in the fourth quarter worth approximately $29,000. Finally, Garner Asset Management Corp bought a new position in Enbridge in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $50.89 on Friday. The business’s fifty day simple moving average is $54.67 and its 200 day simple moving average is $53.91. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The firm has a market capitalization of $111.15 billion, a P/E ratio of 27.22 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, analysts anticipate that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is 147.06%.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent research reports. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.00.

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.