Sagespring Wealth Partners LLC Grows Stake in Enbridge Inc $ENB

Sagespring Wealth Partners LLC lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 20.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,141 shares of the pipeline company’s stock after purchasing an additional 3,938 shares during the period. Sagespring Wealth Partners LLC’s holdings in Enbridge were worth $1,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after purchasing an additional 25,071 shares during the period. 111 Capital purchased a new position in shares of Enbridge in the 2nd quarter valued at approximately $1,887,000. Loudon Investment Management LLC lifted its position in Enbridge by 40.6% during the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after buying an additional 8,600 shares during the period. Hartline Investment Corp lifted its position in Enbridge by 31.3% during the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock valued at $1,600,000 after buying an additional 8,610 shares during the period. Finally, JBR Co Financial Management Inc purchased a new position in Enbridge during the first quarter valued at $330,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE ENB opened at $47.62 on Thursday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The firm has a market cap of $103.84 billion, a P/E ratio of 23.46, a PEG ratio of 4.36 and a beta of 0.78. The company has a 50 day moving average of $48.46 and a 200 day moving average of $46.32. 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 announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period in the previous year, the business earned $0.58 EPS. As a group, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. Enbridge’s dividend payout ratio is presently 134.98%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ENB shares. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.50.

Enbridge 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.