McAlvany Wealth Management LLC Takes $1.35 Million Position in Enbridge Inc $ENB

McAlvany Wealth Management LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,137 shares of the pipeline company’s stock, valued at approximately $1,346,000. Enbridge makes up approximately 1.0% of McAlvany Wealth Management LLC’s holdings, making the stock its 27th biggest holding.

Other large investors have also recently bought and sold shares of the company. Purpose Unlimited Inc. purchased a new position in Enbridge during the 4th quarter valued at about $60,738,000. Rockefeller Capital Management L.P. lifted its position in shares of Enbridge by 1.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 316,403 shares of the pipeline company’s stock worth $15,134,000 after purchasing an additional 5,993 shares in the last quarter. Fund Advisors of America Inc FL purchased a new stake in shares of Enbridge in the fourth quarter worth approximately $258,000. World Investment Advisors lifted its position in shares of Enbridge by 44.2% in the fourth quarter. World Investment Advisors now owns 36,411 shares of the pipeline company’s stock worth $1,743,000 after purchasing an additional 11,164 shares in the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of Enbridge during the fourth quarter worth approximately $39,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ENB shares. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Royal Bank Of Canada increased their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” 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 given a Hold rating to the company. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Down 0.0%

Shares of Enbridge stock opened at $54.53 on Friday. The firm has a market cap of $119.08 billion, a price-to-earnings ratio of 25.60 and a beta of 0.58. The stock has a 50-day simple moving average of $54.92 and a 200-day simple moving average of $51.89. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, equities research analysts expect that Enbridge Inc will post 2.18 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 given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is currently 133.80%.

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.