Patriot Financial Group Insurance Agency LLC Buys 42,341 Shares of Enbridge Inc $ENB

Patriot Financial Group Insurance Agency LLC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 80.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,744 shares of the pipeline company’s stock after purchasing an additional 42,341 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $5,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ENB. Exchange Traded Concepts LLC boosted its holdings in Enbridge by 3.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after acquiring an additional 41,601 shares during the last quarter. Viking Fund Management LLC lifted its position in shares of Enbridge by 35.2% during the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after purchasing an additional 61,500 shares in the last quarter. Third View Private Wealth LLC bought a new position in shares of Enbridge during the fourth quarter valued at about $3,691,000. Swiss Life Asset Management Ltd boosted its holdings in Enbridge by 19.2% during the third quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after purchasing an additional 44,524 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Stock Up 0.1%

Enbridge stock opened at $56.24 on Friday. The firm has a 50 day moving average price of $55.12 and a 200-day moving average price of $52.15. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. The company has a market capitalization of $122.84 billion, a P/E ratio of 26.41 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping 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 analysts’ expectations of $8.49 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, equities 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 given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

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.