Kingsview Wealth Management LLC Purchases 11,737 Shares of Enbridge Inc $ENB

Kingsview Wealth Management LLC grew its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,331 shares of the pipeline company’s stock after purchasing an additional 11,737 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Enbridge were worth $6,234,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ENB. Bank of Nova Scotia boosted its stake in Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after purchasing an additional 5,157,030 shares in the last quarter. Vanguard Group Inc. boosted its stake in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Enbridge by 43.7% in the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after purchasing an additional 2,016,674 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Enbridge in the third quarter worth $88,407,000. Finally, Kayne Anderson Capital Advisors LP boosted its stake in Enbridge by 48.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock worth $232,477,000 after purchasing an additional 1,508,300 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $54.75 on Friday. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The firm has a market capitalization of $119.56 billion, a price-to-earnings ratio of 25.71 and a beta of 0.59. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average of $54.45 and a 200-day moving average of $51.09.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the business posted $1.03 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ENB shares. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Royal Bank Of Canada boosted their target price 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. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

About Enbridge

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.