Private Wealth Asset Management LLC Buys 620 Shares of Enbridge Inc $ENB

Private Wealth Asset Management LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 289.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 834 shares of the pipeline company’s stock after buying an additional 620 shares during the period. Private Wealth Asset Management LLC’s holdings in Enbridge were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after purchasing an additional 1,569,879 shares during the period. GQG Partners LLC raised its holdings in Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc lifted its position in Enbridge by 1.6% during the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after buying an additional 617,577 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Enbridge by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after buying an additional 1,680,116 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $47.62 on Thursday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The company has a market capitalization of $103.84 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 4.36 and a beta of 0.78. The firm has a 50 day moving average of $48.46 and a 200 day moving average of $46.32. 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 (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same period last year, the business posted $0.58 EPS. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ENB. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.