Leo Wealth LLC Buys Shares of 10,534 Enbridge Inc $ENB

Leo Wealth LLC bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,534 shares of the pipeline company’s stock, valued at approximately $477,000.

Several other large investors have also made changes to their positions in ENB. Brighton Jones LLC bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $261,000. GAMMA Investing LLC grew its position in Enbridge by 4,331.0% in the first quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company’s stock worth $1,400,000 after acquiring an additional 30,880 shares in the last quarter. Farther Finance Advisors LLC grew its position in Enbridge by 64.6% in the first quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock worth $907,000 after acquiring an additional 7,992 shares in the last quarter. Integrated Advisors Network LLC grew its position in Enbridge by 316.7% in the first quarter. Integrated Advisors Network LLC now owns 59,710 shares of the pipeline company’s stock worth $2,646,000 after acquiring an additional 45,380 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Enbridge by 0.4% in the first 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 in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $48.01 on Friday. The business has a 50 day moving average price of $48.38 and a 200 day moving average price of $46.23. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The company has a market cap of $104.70 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 4.49 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

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

Enbridge Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ENB shares. Argus upped their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Company 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.