Patriot Financial Group Insurance Agency LLC Raises Holdings in Enbridge Inc. (NYSE:ENB)

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,502 shares of the pipeline company’s stock after buying an additional 1,791 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $1,839,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC increased its holdings in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Enbridge during the fourth quarter worth approximately $39,000. Hopwood Financial Services Inc. bought a new position in shares of Enbridge in the fourth quarter valued at approximately $42,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Enbridge in the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $46.49 on Friday. The stock has a market capitalization of $101.35 billion, a PE ratio of 27.03, a PEG ratio of 3.92 and a beta of 0.81. The company has a 50 day moving average price of $45.17 and a 200-day moving average price of $43.88. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the firm posted $0.92 EPS. Equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.679 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 5.84%. The ex-dividend date was Thursday, May 15th. Enbridge’s dividend payout ratio is presently 139.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ENB shares. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.00.

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.