Enbridge Inc $ENB Shares Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC boosted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 68.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,141 shares of the pipeline company’s stock after purchasing an additional 24,127 shares during the quarter. Diversify Wealth Management LLC’s holdings in Enbridge were worth $3,159,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. PFG Investments LLC raised its stake in shares of Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after buying an additional 202 shares during the last quarter. MIdWestOne Financial Group Inc. increased its holdings in Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in Enbridge by 1.1% during the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock valued at $891,000 after acquiring an additional 205 shares in the last quarter. Arete Wealth Advisors LLC raised its position in Enbridge by 4.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 208 shares during the last quarter. Finally, Blue Fin Capital Inc. raised its position in Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of several research reports. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada increased their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Performance

NYSE:ENB opened at $55.08 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market cap of $120.29 billion, a PE ratio of 25.86 and a beta of 0.58. The firm has a 50 day simple moving average of $55.47 and a 200-day simple moving average of $52.75. Enbridge Inc has a 1-year low of $44.37 and a 1-year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the previous year, the company earned $1.03 EPS. On average, equities analysts expect that Enbridge Inc will post 2.15 EPS for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge’s payout ratio is currently 133.80%.

Enbridge Company 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.