Enbridge Inc $ENB Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 523,121 shares of the pipeline company’s stock after buying an additional 36,211 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Enbridge were worth $25,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westwood Holdings Group Inc. boosted its position in shares of Enbridge by 83.1% in the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after acquiring an additional 1,044,093 shares during the period. Mutual Advisors LLC increased its position in Enbridge by 25.3% during the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock worth $2,338,000 after acquiring an additional 10,488 shares during the period. 111 Capital acquired a new position in Enbridge during the 2nd quarter valued at $1,887,000. Loudon Investment Management LLC boosted its holdings in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after purchasing an additional 8,600 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of Enbridge by 37.7% in the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock valued at $3,256,000 after buying an additional 19,655 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 0.3%

Shares of Enbridge stock opened at $47.29 on Thursday. The business has a fifty day simple moving average of $47.40 and a 200 day simple moving average of $47.39. The stock has a market cap of $103.17 billion, a PE ratio of 25.98 and a beta of 0.68. 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 12 month low of $39.73 and a 12 month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period in the previous year, the company posted $0.55 EPS. Research analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a $0.97 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.2%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is 147.80%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ENB shares. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Scotiabank raised shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. Finally, CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Enbridge 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.