Belpointe Asset Management LLC Has $408,000 Stock Holdings in Enbridge Inc $ENB

Belpointe Asset Management LLC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,994 shares of the pipeline company’s stock after buying an additional 478 shares during the quarter. Belpointe Asset Management LLC’s holdings in Enbridge were worth $408,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dagco Inc. acquired a new position in Enbridge in the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new position in Enbridge in the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC acquired a new position in Enbridge in the 1st quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC increased its stake 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 buying an additional 365 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $47.67 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a fifty day simple moving average of $48.41 and a 200 day simple moving average of $46.25. The company has a market cap of $103.96 billion, a P/E ratio of 23.48, a P/E/G ratio of 4.39 and a beta of 0.78. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the prior year, the firm earned $0.58 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is currently 134.98%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ENB. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Argus increased their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” 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.