13,338 Shares in Enbridge Inc. (NYSE:ENB) Acquired by InTrack Investment Management Inc

InTrack Investment Management Inc bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 13,338 shares of the pipeline company’s stock, valued at approximately $591,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. Wintrust Investments LLC increased its position in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares in the last quarter. GeoWealth Management LLC increased its position in Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 611 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in Enbridge during the 4th quarter worth approximately $39,000. Hopwood Financial Services Inc. acquired a new stake in Enbridge during the 4th quarter worth approximately $42,000. Finally, SJS Investment Consulting Inc. increased its position in Enbridge by 731.7% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ENB shares. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $45.83 on Wednesday. The business’s fifty day moving average price is $45.19 and its 200 day moving average price is $43.91. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.44. The stock has a market capitalization of $99.92 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. During the same period last year, the business posted $0.92 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 5.93%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.