Enbridge Inc. (NYSE:ENB) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,249 shares of the pipeline company’s stock after buying an additional 4,454 shares during the period. Apollon Wealth Management LLC’s holdings in Enbridge were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. FORVIS Wealth Advisors LLC increased its holdings in Enbridge by 30.3% in the third quarter. FORVIS Wealth Advisors LLC now owns 13,593 shares of the pipeline company’s stock valued at $456,000 after buying an additional 3,159 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Enbridge by 14.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,476,004 shares of the pipeline company’s stock worth $82,179,000 after purchasing an additional 308,620 shares during the period. NBT Bank N A NY acquired a new position in Enbridge during the 3rd quarter worth approximately $218,000. Park Avenue Securities LLC increased its position in Enbridge by 9.9% during the 3rd quarter. Park Avenue Securities LLC now owns 22,093 shares of the pipeline company’s stock worth $736,000 after purchasing an additional 1,991 shares during the period. Finally, Altfest L J & Co. Inc. acquired a new position in Enbridge during the 3rd quarter worth approximately $532,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Trading Up 0.4 %

Shares of ENB stock traded up $0.16 on Wednesday, reaching $36.99. 974,758 shares of the stock were exchanged, compared to its average volume of 5,743,522. The stock has a market cap of $78.64 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 3.43 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $35.41 and a two-hundred day moving average of $35.02. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.22.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, research analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 127.14%.

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.