Lido Advisors LLC Grows Stake in Enbridge Inc $ENB

Lido Advisors LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 390.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 115,082 shares of the pipeline company’s stock after acquiring an additional 91,598 shares during the period. Lido Advisors LLC’s holdings in Enbridge were worth $6,230,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ENB. Triumph Capital Management acquired a new stake in Enbridge in the third quarter valued at $26,000. Turning Point Benefit Group Inc. acquired a new position in shares of Enbridge during the 3rd quarter worth $28,000. Inspire Investing LLC acquired a new position in shares of Enbridge during the 4th quarter worth $29,000. Imprint Wealth LLC acquired a new position in shares of Enbridge during the 3rd quarter worth $31,000. Finally, Garner Asset Management Corp purchased a new stake in shares of Enbridge in the 4th quarter worth about $30,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday. Royal Bank Of Canada lifted their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Performance

NYSE ENB opened at $56.84 on Friday. Enbridge Inc has a fifty-two week low of $44.58 and a fifty-two week high of $58.45. The stock has a market cap of $124.13 billion, a price-to-earnings ratio of 26.68 and a beta of 0.58. The business has a fifty day moving average of $55.73 and a 200-day moving average of $53.24. 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 (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the prior year, the business earned $1.03 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.13 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.8%. Enbridge’s payout ratio is presently 133.80%.

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.