Good Steward Wealth Advisors LLC Makes New $637,000 Investment in Enbridge Inc (NYSE:ENB)

Good Steward Wealth Advisors LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, Holdings Channel reports. The firm acquired 14,376 shares of the pipeline company’s stock, valued at approximately $637,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $261,000. Strategic Financial Concepts LLC lifted its holdings in shares of Enbridge by 38.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 10,091 shares of the pipeline company’s stock worth $428,000 after purchasing an additional 2,822 shares in the last quarter. D.A. Davidson & CO. grew its position in Enbridge by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 175,703 shares of the pipeline company’s stock valued at $7,455,000 after purchasing an additional 1,280 shares during the period. Venturi Wealth Management LLC grew its position in Enbridge by 157.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,949 shares of the pipeline company’s stock valued at $125,000 after purchasing an additional 1,802 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in Enbridge during the 4th quarter valued at $104,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ENB shares. Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Down 2.1%

Enbridge stock opened at $44.99 on Friday. Enbridge Inc has a fifty-two week low of $34.60 and a fifty-two week high of $47.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The firm’s 50-day simple moving average is $45.77 and its 200 day simple moving average is $44.04. The stock has a market cap of $98.10 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 4.24 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm 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 EPS. Research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders 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 annualized dividend and a yield of 6.04%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 140.21%.

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.