Kestra Advisory Services LLC Has $8.11 Million Stock Holdings in Enbridge Inc $ENB

Kestra Advisory Services LLC raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 26.0% in the first quarter, Holdings Channel reports. The firm owned 149,717 shares of the pipeline company’s stock after buying an additional 30,874 shares during the period. Kestra Advisory Services LLC’s holdings in Enbridge were worth $8,106,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Triumph Capital Management bought a new stake in shares of Enbridge in the 3rd quarter valued at approximately $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge during the third quarter valued at approximately $28,000. Inspire Investing LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $29,000. Garner Asset Management Corp acquired a new stake in Enbridge in the fourth quarter valued at approximately $30,000. Finally, Imprint Wealth LLC bought a new stake in Enbridge in the third quarter worth approximately $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENB has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Royal Bank Of Canada upped their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Performance

Shares of ENB opened at $55.08 on Tuesday. The company has a market capitalization of $120.29 billion, a PE ratio of 25.86 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge Inc has a one year low of $44.37 and a one year high of $58.45. The company’s fifty day moving average price is $55.47 and its 200 day moving average price is $52.75.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the prior year, the company earned $1.03 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.15 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is currently 133.80%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.