Advisor Resource Council Makes New Investment in Enbridge Inc (NYSE:ENB)

Advisor Resource Council bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 16,400 shares of the pipeline company’s stock, valued at approximately $727,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Wintrust Investments LLC lifted its holdings in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC lifted its holdings in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 611 shares in the last quarter. Capital A Wealth Management LLC bought a new position in Enbridge during the fourth quarter worth about $39,000. Hopwood Financial Services Inc. bought a new position in Enbridge during the fourth quarter worth about $42,000. Finally, SJS Investment Consulting Inc. lifted its holdings in Enbridge by 731.7% during the first quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 900 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $44.71 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The stock’s 50-day moving average is $45.80 and its 200-day moving average is $44.05. The firm has a market cap of $97.47 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 4.22 and a beta of 0.81. Enbridge Inc has a one year low of $34.68 and a one year high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the previous year, the business earned $0.92 earnings per share. Equities analysts predict 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 Sunday, June 1st. Investors of record on Thursday, May 15th were given a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.08%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 140.21%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Finally, Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.00.

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.