Enbridge Inc $ENB Stock Position Boosted by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 199.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,615 shares of the pipeline company’s stock after buying an additional 10,405 shares during the period. Gateway Wealth Partners LLC’s holdings in Enbridge were worth $845,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ENB. Norges Bank bought a new stake in Enbridge during the fourth quarter worth approximately $1,195,559,000. Auto Owners Insurance Co boosted its stake in Enbridge by 4,683.0% during the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after purchasing an additional 8,387,721 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Enbridge by 787.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,196,000 shares of the pipeline company’s stock valued at $173,189,000 after purchasing an additional 2,836,000 shares during the period. Alberta Investment Management Corp acquired a new position in shares of Enbridge during the 4th quarter valued at $132,705,000. Finally, Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on ENB shares. TD Securities restated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Price Performance

Shares of NYSE:ENB opened at $55.14 on Thursday. Enbridge Inc has a one year low of $44.80 and a one year high of $58.45. The stock has a fifty day moving average of $55.64 and a 200-day moving average of $53.50. The company has a market capitalization of $120.43 billion, a PE ratio of 25.89 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

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, topping 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 period last year, the company posted $1.03 EPS. As a group, equities analysts anticipate that Enbridge Inc will post 2.13 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio is currently 133.80%.

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.