Wolff Wiese Magana LLC Purchases 365 Shares of Enbridge Inc (NYSE:ENB)

Wolff Wiese Magana LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 91.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 765 shares of the pipeline company’s stock after acquiring an additional 365 shares during the period. Wolff Wiese Magana LLC’s holdings in Enbridge were worth $34,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ENB. Garde Capital Inc. bought a new stake in Enbridge in the first quarter worth about $26,000. Wintrust Investments LLC raised its position in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC raised its position in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 611 shares during the period. Capital A Wealth Management LLC bought a new stake in Enbridge in the fourth quarter worth about $39,000. Finally, Hopwood Financial Services Inc. bought a new stake in Enbridge in the fourth quarter worth about $42,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $44.71 on Friday. The stock has a market cap of $97.47 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 4.22 and a beta of 0.81. Enbridge Inc has a fifty-two week low of $34.68 and a fifty-two week high of $47.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The stock has a fifty day moving average of $45.80 and a 200-day moving average of $44.05.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same quarter in the prior year, the firm posted $0.92 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 140.21%.

Analyst Ratings Changes

Several brokerages have commented on ENB. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup began coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Finally, Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.00.

Enbridge Company 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.