Silverlake Wealth Management LLC Invests $911,000 in Enbridge Inc $ENB

Silverlake Wealth Management LLC purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,803 shares of the pipeline company’s stock, valued at approximately $911,000.

Several other hedge funds also recently modified their holdings of ENB. Triumph Capital Management bought a new stake in Enbridge during the 3rd quarter worth $26,000. Arlington Trust Co LLC increased its holdings in Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. bought a new position in Enbridge in the third quarter valued at about $28,000. Inspire Investing LLC bought a new position in Enbridge in the fourth quarter valued at about $29,000. Finally, Garner Asset Management Corp acquired a new stake in shares of Enbridge during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wolfe Research set a $50.00 price target on Enbridge in a report on Tuesday, August 4th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Royal Bank Of Canada lifted their target price on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Stock Down 0.8%

Shares of NYSE:ENB opened at $50.89 on Friday. The firm has a market cap of $111.15 billion, a P/E ratio of 27.22 and a beta of 0.58. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The business has a fifty day simple moving average of $54.67 and a 200 day simple moving average of $53.91. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the previous year, the company posted $0.65 EPS. Analysts predict that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is currently 147.06%.

Enbridge 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.