Beverly Hills Private Wealth LLC Sells 256 Shares of Enbridge Inc (NYSE:ENB)

Beverly Hills Private Wealth LLC lessened its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,843 shares of the pipeline company’s stock after selling 256 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Enbridge were worth $835,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ENB. Garde Capital Inc. purchased a new stake in Enbridge in the first quarter worth approximately $26,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after buying an additional 611 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after buying an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Enbridge in the fourth quarter worth $39,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

ENB opened at $44.13 on Tuesday. The company has a 50 day simple moving average of $45.68 and a two-hundred day simple moving average of $44.29. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The firm has a market cap of $96.22 billion, a P/E ratio of 22.75, a PEG ratio of 4.22 and a beta of 0.79. Enbridge Inc has a 1-year low of $35.10 and a 1-year high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the prior year, the business posted $0.92 EPS. Equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 6.15%. Enbridge’s payout ratio is currently 139.69%.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent research reports. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.00.

About Enbridge

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.