LexAurum Advisors LLC Purchases 1,299 Shares of Enbridge Inc. (NYSE:ENB)

LexAurum Advisors LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 26.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,126 shares of the pipeline company’s stock after buying an additional 1,299 shares during the quarter. LexAurum Advisors LLC’s holdings in Enbridge were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the period. Brighton Jones LLC bought a new position in Enbridge during the fourth quarter valued at about $261,000. Stratos Wealth Partners LTD. increased its holdings in Enbridge by 13.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 47,647 shares of the pipeline company’s stock worth $2,022,000 after buying an additional 5,683 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Enbridge by 4,134.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 307,820 shares of the pipeline company’s stock worth $13,061,000 after buying an additional 300,551 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Enbridge in the fourth quarter worth about $103,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.8%

Enbridge stock opened at $46.49 on Monday. The firm has a 50 day simple moving average of $45.17 and a 200 day simple moving average of $43.88. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.44. The firm has a market capitalization of $101.35 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 3.92 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the business earned $0.92 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were given a dividend of $0.679 per share. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.84%. Enbridge’s dividend payout ratio is currently 139.69%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENB. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating for the company. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Raymond James raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.