Patriot Financial Group Insurance Agency LLC Has $2.02 Million Stock Holdings in Enbridge Inc $ENB

Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 44,634 shares of the pipeline company’s stock after purchasing an additional 3,132 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $2,023,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Gold Investment Management Ltd. lifted its position in shares of Enbridge by 1.5% during the 2nd quarter. Gold Investment Management Ltd. now owns 73,450 shares of the pipeline company’s stock worth $3,330,000 after purchasing an additional 1,114 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in shares of Enbridge during the second quarter worth approximately $281,000. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Enbridge by 1.1% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 77,774 shares of the pipeline company’s stock worth $3,524,000 after buying an additional 813 shares in the last quarter. Loudon Investment Management LLC increased its holdings in shares of Enbridge by 40.6% during the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after buying an additional 8,600 shares in the last quarter. Finally, Marino Stram & Associates LLC increased its holdings in shares of Enbridge by 11.1% during the second quarter. Marino Stram & Associates LLC now owns 24,222 shares of the pipeline company’s stock worth $1,098,000 after buying an additional 2,412 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. Argus raised their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Stock Performance

Shares of Enbridge stock opened at $49.69 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The firm has a market cap of $108.35 billion, a P/E ratio of 24.48, a P/E/G ratio of 4.54 and a beta of 0.78. The firm has a 50 day simple moving average of $47.96 and a 200 day simple moving average of $46.04. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the business posted $0.58 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

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.