Foresight Capital Management Advisors Inc. Purchases 1,461 Shares of Enbridge Inc $ENB

Foresight Capital Management Advisors Inc. lifted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,098 shares of the pipeline company’s stock after purchasing an additional 1,461 shares during the quarter. Enbridge accounts for 2.1% of Foresight Capital Management Advisors Inc.’s portfolio, making the stock its 16th largest position. Foresight Capital Management Advisors Inc.’s holdings in Enbridge were worth $3,585,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ENB. Dagco Inc. bought a new stake in Enbridge in the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC bought a new stake in Enbridge in the first quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC raised its position in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 365 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.6%

ENB stock opened at $49.78 on Tuesday. The business has a fifty day moving average price of $48.16 and a 200 day moving average price of $46.16. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The stock has a market capitalization of $108.56 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 4.58 and a beta of 0.78. 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 posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the firm earned $0.58 earnings per share. Analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given 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 was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.5%. Enbridge’s dividend payout ratio is currently 134.98%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ENB shares. Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

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.