Enbridge Inc $ENB Shares Purchased by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,546 shares of the pipeline company’s stock after purchasing an additional 2,500 shares during the quarter. Kellett Wealth Advisors LLC’s holdings in Enbridge were worth $614,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new position in Enbridge during the first quarter worth $25,000. Garde Capital Inc. acquired a new position in Enbridge during the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the first quarter worth $28,000. Accent Capital Management LLC acquired a new position in Enbridge during the first quarter worth $30,000. Finally, Wolff Wiese Magana LLC raised its holdings in Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 365 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ENB shares. Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.50.

Enbridge Stock Performance

Enbridge stock opened at $47.74 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a fifty day moving average of $48.44 and a two-hundred day moving average of $46.30. The company has a market capitalization of $104.10 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 4.38 and a beta of 0.78. 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 announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS 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 the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

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.