Enbridge Inc $ENB Position Boosted by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 199.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,615 shares of the pipeline company’s stock after purchasing an additional 10,405 shares during the period. Gateway Wealth Partners LLC’s holdings in Enbridge were worth $845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Brighton Jones LLC bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $261,000. AQR Capital Management LLC lifted its stake in Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares during the last quarter. AXA S.A. boosted its holdings in Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after purchasing an additional 15,259 shares during the period. Diversify Advisory Services LLC boosted its holdings in Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after purchasing an additional 10,617 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Enbridge by 80.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after purchasing an additional 34,912 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.2%

Enbridge stock opened at $55.14 on Thursday. Enbridge Inc has a 52-week low of $44.80 and a 52-week high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $120.43 billion, a price-to-earnings ratio of 25.89 and a beta of 0.58. The firm has a 50-day moving average price of $55.64 and a two-hundred day moving average price of $53.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter last year, the business earned $1.03 earnings per share. Sell-side analysts expect that Enbridge Inc will post 2.13 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank Of Canada increased their target price 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 upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. TD Securities restated a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

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.