Principle Wealth Partners LLC Buys Shares of 14,675 Enbridge Inc $ENB

Principle Wealth Partners LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,675 shares of the pipeline company’s stock, valued at approximately $796,000.

A number of other institutional investors 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. Arlington Trust Co LLC boosted its position in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 267 shares during the period. Turning Point Benefit Group Inc. acquired a new stake in Enbridge in the 3rd quarter valued at approximately $28,000. Inspire Investing LLC acquired a new stake in Enbridge in the 4th quarter valued at approximately $29,000. Finally, Garner Asset Management Corp purchased a new stake in Enbridge in the fourth quarter valued at approximately $30,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Raymond James Financial cut Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price objective on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. TD Securities reissued a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Price Performance

Shares of ENB opened at $50.63 on Tuesday. The company has a market cap of $110.58 billion, a P/E ratio of 27.07 and a beta of 0.58. Enbridge Inc has a fifty-two week low of $45.03 and a fifty-two week high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The firm’s 50 day moving average price is $54.57 and its 200 day moving average price is $53.97.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The company had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter last year, the company posted $0.65 EPS. On average, research analysts forecast that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is presently 147.06%.

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.