Western Wealth Management LLC Acquires 28,091 Shares of Enbridge Inc $ENB

Western Wealth Management LLC raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 346.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,190 shares of the pipeline company’s stock after acquiring an additional 28,091 shares during the period. Western Wealth Management LLC’s holdings in Enbridge were worth $1,959,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Third View Private Wealth LLC bought a new position in Enbridge in the fourth quarter valued at $3,691,000. Vanguard Group Inc. lifted its position in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the last quarter. RNC Capital Management LLC boosted its stake in Enbridge by 1.6% in the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after buying an additional 22,637 shares in the last quarter. Thomasville National Bank boosted its stake in Enbridge by 3.0% in the fourth quarter. Thomasville National Bank now owns 868,003 shares of the pipeline company’s stock worth $41,517,000 after buying an additional 24,993 shares in the last quarter. Finally, Intact Investment Management Inc. grew its position in Enbridge by 22.8% during the fourth quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after acquiring an additional 183,163 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.4%

Shares of ENB opened at $51.60 on Wednesday. The stock has a market capitalization of $112.71 billion, a P/E ratio of 27.60 and a beta of 0.58. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The firm has a fifty day simple moving average of $54.97 and a two-hundred day simple moving average of $53.88.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, research analysts anticipate that Enbridge Inc will post 2.1 EPS for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.97 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.5%. Enbridge’s dividend payout ratio (DPR) is 152.41%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ENB. TD Securities restated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Raymond James Financial downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus price target of $67.00.

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.