29,994 Shares in Enbridge Inc $ENB Purchased by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,994 shares of the pipeline company’s stock, valued at approximately $1,435,000.

Several other hedge funds have also made changes to their positions in ENB. Triumph Capital Management purchased a new stake in shares of Enbridge in the 3rd quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge in the 3rd quarter valued at approximately $28,000. Garner Asset Management Corp purchased a new position in Enbridge in the 4th quarter valued at approximately $30,000. Imprint Wealth LLC purchased a new position in Enbridge in the 3rd quarter valued at approximately $31,000. Finally, Tucker Asset Management LLC purchased a new position in Enbridge in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. Royal Bank Of Canada raised their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Price Performance

Shares of NYSE:ENB opened at $56.34 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 firm has a market capitalization of $123.04 billion, a P/E ratio of 26.45 and a beta of 0.58. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45. The company’s fifty day moving average price is $54.65 and its 200 day moving average price is $51.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period in the previous year, the business posted $1.03 earnings per share. As a group, sell-side analysts predict that Enbridge Inc will post 2.2 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. Enbridge’s payout ratio is currently 133.80%.

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.