Gould Asset Management LLC CA Makes New Investment in Enbridge Inc $ENB

Gould Asset Management LLC CA purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,568 shares of the pipeline company’s stock, valued at approximately $573,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triumph Capital Management bought a new stake in Enbridge in the 3rd quarter valued at about $26,000. Arlington Trust Co LLC boosted its holdings in Enbridge by 114.6% in the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new stake in Enbridge in the third quarter valued at approximately $28,000. Inspire Investing LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $29,000. Finally, Garner Asset Management Corp bought a new stake in shares of Enbridge during the fourth quarter valued at approximately $30,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ENB shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Wolfe Research set a $50.00 price target on shares of Enbridge in a research note on Tuesday, August 4th. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Finally, Raymond James Financial downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target of $67.00.

Enbridge Price Performance

ENB stock opened at $50.89 on Monday. The company has a market capitalization of $111.15 billion, a P/E ratio of 27.22 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The business has a 50-day simple moving average of $54.67 and a two-hundred day simple moving average of $53.95.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period in the prior year, the business posted $0.65 earnings per share. Research analysts expect that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

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

About Enbridge

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.