Enbridge Inc $ENB Shares Acquired by Western Wealth Management LLC

Western Wealth Management LLC increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,715 shares of the pipeline company’s stock after acquiring an additional 1,270 shares during the quarter. Western Wealth Management LLC’s holdings in Enbridge were worth $350,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Dagco Inc. purchased a new position in Enbridge during the 1st quarter worth $25,000. Whipplewood Advisors LLC boosted its stake in shares of Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after buying an additional 308 shares during the period. Financial Gravity Companies Inc. acquired a new stake in shares of Enbridge during the second quarter worth about $29,000. Accent Capital Management LLC purchased a new position in shares of Enbridge during the first quarter worth about $30,000. Finally, Addison Advisors LLC acquired a new position in Enbridge in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ENB. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Zacks Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Up 1.1%

Enbridge stock opened at $48.29 on Wednesday. The stock’s 50 day moving average price is $48.26 and its 200 day moving average price is $46.85. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a market cap of $105.33 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the business posted $0.55 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is currently 147.80%.

Enbridge Company 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.