Kellett Wealth Advisors LLC Has $489,000 Stock Position in Enbridge Inc (NYSE:ENB)

Kellett Wealth Advisors LLC cut its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,046 shares of the pipeline company’s stock after selling 550 shares during the quarter. Kellett Wealth Advisors LLC’s holdings in Enbridge were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock worth $1,526,000 after acquiring an additional 226 shares during the last quarter. Wintrust Investments LLC lifted its stake in shares of 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 buying an additional 238 shares during the last quarter. Knuff & Co LLC grew its stake in Enbridge by 12.6% in the 4th quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company’s stock valued at $96,000 after buying an additional 252 shares during the last quarter. Hardin Capital Partners LLC raised its holdings in Enbridge by 2.7% in the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock valued at $423,000 after acquiring an additional 252 shares during the period. Finally, Investors Research Corp boosted its holdings in shares of Enbridge by 9.5% during the first quarter. Investors Research Corp now owns 3,051 shares of the pipeline company’s stock worth $135,000 after acquiring an additional 264 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of Enbridge stock opened at $45.06 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. Enbridge Inc has a one year low of $34.71 and a one year high of $47.44. The business has a 50-day simple moving average of $45.83 and a 200 day simple moving average of $44.07. The firm has a market capitalization of $98.24 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 4.23 and a beta of 0.81.

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

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders 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 6.03%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge’s payout ratio is currently 140.21%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENB. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Enbridge has a consensus rating of “Hold” and an average price target of $67.00.

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.