4,562 Shares in Enbridge Inc $ENB Acquired by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,562 shares of the pipeline company’s stock, valued at approximately $207,000.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after buying an additional 19,074,827 shares during the period. Nuveen LLC bought a new position in Enbridge in the 1st quarter worth $208,490,000. Vanguard Group Inc. lifted its position in Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after acquiring an additional 3,217,961 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Enbridge by 20.2% during the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after acquiring an additional 2,989,992 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Enbridge by 39.7% in the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after purchasing an additional 2,707,068 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Enbridge in a research note on Monday. Zacks Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, Argus increased their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 0.5%

Shares of ENB stock opened at $47.54 on Wednesday. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock has a fifty day moving average price of $48.17 and a 200 day moving average price of $46.91. The stock has a market cap of $103.70 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the firm earned $0.55 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Friday, November 14th. Enbridge’s dividend payout ratio is 147.80%.

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.