Soltis Investment Advisors LLC Grows Stock Holdings in Enbridge Inc $ENB

Soltis Investment Advisors LLC boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 184,381 shares of the pipeline company’s stock after acquiring an additional 13,182 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Enbridge were worth $8,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Independent Solutions Wealth Management LLC grew its stake in Enbridge by 2.6% in the 4th quarter. Independent Solutions Wealth Management LLC now owns 37,375 shares of the pipeline company’s stock valued at $1,788,000 after buying an additional 934 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its stake in Enbridge by 6.2% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 5,757 shares of the pipeline company’s stock valued at $275,000 after buying an additional 336 shares in the last quarter. Hills Bank & Trust Co purchased a new position in Enbridge in the 4th quarter valued at approximately $204,000. Novare Capital Management LLC purchased a new position in Enbridge in the 4th quarter valued at approximately $214,000. Finally, AlphaCore Capital LLC grew its stake in Enbridge by 6.5% in the 4th quarter. AlphaCore Capital LLC now owns 58,071 shares of the pipeline company’s stock valued at $2,778,000 after buying an additional 3,536 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ENB shares. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada lifted their price objective 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. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Down 1.6%

Shares of NYSE:ENB opened at $55.31 on Friday. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $56.22. The firm has a fifty day moving average of $53.88 and a 200 day moving average of $50.40. The firm has a market capitalization of $120.79 billion, a PE ratio of 25.97 and a beta of 0.59. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.55 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business earned $1.03 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.17 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.0%. Enbridge’s payout ratio is 130.52%.

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.