Venturi Wealth Management LLC Buys Shares of 4,173 Enbridge Inc $ENB

Venturi Wealth Management LLC bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,173 shares of the pipeline company’s stock, valued at approximately $189,000.

Several other hedge funds also recently made changes to their positions in ENB. Brighton Jones LLC acquired a new position in shares of Enbridge in the 4th quarter worth approximately $261,000. GAMMA Investing LLC grew its stake in shares of Enbridge by 4,331.0% in the 1st quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company’s stock worth $1,400,000 after purchasing an additional 30,880 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Enbridge by 64.6% in the 1st quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock worth $907,000 after purchasing an additional 7,992 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Enbridge by 0.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 75,420 shares of the pipeline company’s stock worth $3,337,000 after purchasing an additional 320 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Enbridge in the 1st quarter worth approximately $85,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock opened at $47.67 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market cap of $103.96 billion, a P/E ratio of 23.48, a P/E/G ratio of 4.37 and a beta of 0.78. The firm has a 50 day simple moving average of $48.41 and a 200 day simple moving average of $46.26. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the company posted $0.58 earnings per share. Research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio is 134.98%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ENB shares. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average target price of $60.50.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.