LFG Wealth Partners LLC Makes New $1.47 Million Investment in Enbridge Inc $ENB

LFG Wealth Partners LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, HoldingsChannel.com reports. The fund bought 30,723 shares of the pipeline company’s stock, valued at approximately $1,469,000.

Other hedge funds have also recently modified their holdings of the company. Trajan Wealth LLC lifted its position in shares of Enbridge by 15.3% during the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after buying an additional 106,784 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Enbridge by 3.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after buying an additional 41,601 shares in the last quarter. Viking Fund Management LLC lifted its position in shares of Enbridge by 35.2% during the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after buying an additional 61,500 shares in the last quarter. Third View Private Wealth LLC bought a new position in shares of Enbridge during the 4th quarter worth approximately $3,691,000. Finally, Swiss Life Asset Management Ltd lifted its position in shares of Enbridge by 19.2% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after buying an additional 44,524 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ENB shares. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Royal Bank Of Canada raised their price target 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. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Trading Down 1.0%

Shares of ENB stock opened at $55.94 on Tuesday. The company has a 50 day moving average of $54.87 and a 200-day moving average of $51.73. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The firm has a market cap of $122.15 billion, a P/E ratio of 26.26 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter last year, the business posted $1.03 EPS. Sell-side analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is currently 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.