McAlvany Wealth Management LLC Buys New Position in Enbridge Inc $ENB

McAlvany Wealth Management LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,137 shares of the pipeline company’s stock, valued at approximately $1,346,000. Enbridge accounts for approximately 1.0% of McAlvany Wealth Management LLC’s portfolio, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. MIdWestOne Financial Group Inc. lifted its holdings in Enbridge by 4.3% in the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of Enbridge by 1.1% in the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 205 shares during the last quarter. Arete Wealth Advisors LLC grew its stake in shares of Enbridge by 4.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 208 shares during the last quarter. Blue Fin Capital Inc. raised its holdings in shares of Enbridge by 1.3% in the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 213 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc raised its holdings in shares of Enbridge by 3.4% in the 4th quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 213 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

NYSE ENB opened at $54.53 on Friday. The stock’s 50-day moving average price is $54.92 and its two-hundred day moving average price is $51.89. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a market cap of $119.08 billion, a PE ratio of 25.60 and a beta of 0.58. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45.

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 during the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. On average, analysts predict that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.1%. Enbridge’s payout ratio is currently 133.80%.

Analyst Ratings Changes

Several research firms recently commented on ENB. Royal Bank Of Canada increased their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.