Cvfg LLC Acquires Shares of 12,005 Enbridge Inc $ENB

Cvfg LLC acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the first quarter, Holdings Channel reports. The institutional investor acquired 12,005 shares of the pipeline company’s stock, valued at approximately $650,000.

Other large investors have also recently made changes to their positions in the company. PFG Investments LLC raised its position in shares of Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after buying an additional 202 shares in the last quarter. MIdWestOne Financial Group Inc. grew its position in Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in Enbridge by 1.1% during the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after acquiring an additional 205 shares during the last quarter. Arete Wealth Advisors LLC increased its stake in Enbridge by 4.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 208 shares during the last quarter. Finally, Blue Fin Capital Inc. raised its position in Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock valued at $767,000 after purchasing an additional 213 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Performance

Enbridge stock opened at $55.10 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market capitalization of $120.35 billion, a P/E ratio of 25.87 and a beta of 0.58. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $58.45. The company’s 50-day moving average is $55.42 and its 200 day moving average is $52.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates 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 earned $1.03 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) 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.