Enbridge Inc. (NYSE:ENB) Shares Bought by Priebe Wealth Holdings LLC

Priebe Wealth Holdings LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,464 shares of the pipeline company’s stock after acquiring an additional 313 shares during the period. Priebe Wealth Holdings LLC’s holdings in Enbridge were worth $242,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Enbridge during the fourth quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after buying an additional 9,621,425 shares during the last quarter. Blackstone Inc. lifted its holdings in shares of Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after buying an additional 4,956,379 shares during the period. Deutsche Bank AG grew its holdings in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Enbridge during the fourth quarter worth about $180,941,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE ENB opened at $46.49 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a fifty day moving average of $45.17 and a 200 day moving average of $43.88. The firm has a market cap of $101.35 billion, a PE ratio of 27.03, a PEG ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.44.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were given a $0.679 dividend. This represents a $2.72 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 139.69%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.00.

About Enbridge

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.