Petros Family Wealth LLC Acquires Shares of 5,394 Enbridge Inc $ENB

Petros Family Wealth LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, Holdings Channel reports. The firm acquired 5,394 shares of the pipeline company’s stock, valued at approximately $244,000.

A number of other large investors have also added to or reduced their stakes in the stock. Dagco Inc. bought a new position in Enbridge in the 1st quarter valued at approximately $25,000. Garde Capital Inc. bought a new position in Enbridge in the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC bought a new position in Enbridge in the 1st quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC lifted its position in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.8%

Shares of Enbridge stock opened at $50.11 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The business has a 50-day moving average price of $48.06 and a 200-day moving average price of $46.12. The firm has a market cap of $109.27 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 4.58 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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 net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter last year, the firm earned $0.58 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 134.98%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ENB shares. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

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.