Financial Network Wealth Advisors LLC Increases Stake in Enbridge Inc (NYSE:ENB)

Financial Network Wealth Advisors LLC raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 122.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,112 shares of the pipeline company’s stock after purchasing an additional 613 shares during the period. Financial Network Wealth Advisors LLC’s holdings in Enbridge were worth $49,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. Capital Investment Counsel Inc increased its stake in shares of Enbridge by 3.1% in the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock worth $333,000 after acquiring an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Enbridge by 0.7% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock worth $1,526,000 after acquiring an additional 226 shares during the last quarter. Loudon Investment Management LLC increased its stake in shares of Enbridge by 1.1% in the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after acquiring an additional 240 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in shares of Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 243 shares during the last quarter. Finally, Hardin Capital Partners LLC increased its stake in shares of Enbridge by 2.7% in the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock worth $423,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Stock Performance

Shares of Enbridge stock opened at $47.70 on Thursday. The business has a 50-day moving average of $45.51 and a 200 day moving average of $44.69. Enbridge Inc has a 12 month low of $38.44 and a 12 month high of $47.88. The stock has a market capitalization of $104.01 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 4.35 and a beta of 0.79. 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 announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. During the same period last year, the business posted $0.58 EPS. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. Enbridge’s dividend payout ratio (DPR) is 133.99%.

Enbridge 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.