Kingsview Wealth Management LLC Has $6.23 Million Holdings in Enbridge Inc $ENB

Kingsview Wealth Management LLC boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,331 shares of the pipeline company’s stock after purchasing an additional 11,737 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Enbridge were worth $6,234,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Tsfg LLC increased its stake in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares during the period. Triumph Capital Management bought a new position in Enbridge during the third quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge during the third quarter valued at about $28,000. Garner Asset Management Corp bought a new position in Enbridge during the fourth quarter valued at about $30,000. Finally, Imprint Wealth LLC acquired a new stake in Enbridge during the third quarter worth $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Enbridge stock opened at $54.75 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The stock has a fifty day moving average price of $54.45 and a two-hundred day moving average price of $51.09. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45. The firm has a market capitalization of $119.56 billion, a P/E ratio of 25.71 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the company posted $1.03 earnings per share. As a group, analysts anticipate that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada raised their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock 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.