Axxcess Wealth Management LLC Has $1.64 Million Position in Enbridge Inc $ENB

Axxcess Wealth Management LLC cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,330 shares of the pipeline company’s stock after selling 10,519 shares during the period. Axxcess Wealth Management LLC’s holdings in Enbridge were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. PFG Investments LLC grew its stake in Enbridge by 0.9% during the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after purchasing an additional 202 shares during the period. MIdWestOne Financial Group Inc. lifted its stake in Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after buying an additional 203 shares during the period. Sumitomo Life Insurance Co. lifted its stake in Enbridge by 1.1% in the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock valued at $891,000 after buying an additional 205 shares during the period. Arete Wealth Advisors LLC boosted its holdings in shares of Enbridge by 4.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after buying an additional 208 shares in the last quarter. Finally, Blue Fin Capital Inc. boosted its holdings in shares of Enbridge by 1.3% during the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after buying an additional 213 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. 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 note on Monday, May 11th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Trading Up 0.1%

Shares of Enbridge stock opened at $55.10 on Thursday. The stock has a market capitalization of $120.35 billion, a PE ratio of 25.87 and a beta of 0.58. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The stock has a 50 day moving average price of $55.42 and a two-hundred day moving average price of $52.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.0%. Enbridge’s dividend payout ratio is presently 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.