BKM Wealth Management LLC Makes New $192,000 Investment in Enbridge Inc $ENB

BKM Wealth Management LLC bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,238 shares of the pipeline company’s stock, valued at approximately $192,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after buying an additional 221 shares in the last quarter. Capital Investment Counsel Inc raised its position in shares of Enbridge by 3.1% in the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after buying an additional 223 shares in the last quarter. Loudon Investment Management LLC raised its position in shares of Enbridge by 1.1% in the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after buying an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC raised its position in shares of Enbridge by 1.7% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after buying an additional 242 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its position in shares of Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after buying an additional 243 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Down 0.3%

ENB opened at $47.07 on Friday. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. 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 capitalization of $102.64 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 4.32 and a beta of 0.78. The company’s 50 day moving average price is $48.47 and its two-hundred day moving average price is $46.36.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period in the previous year, the firm posted $0.58 EPS. As a group, research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is presently 134.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Argus upped their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.