Cypress Capital Management LLC WY Takes Position in Enbridge Inc (NYSE:ENB)

Cypress Capital Management LLC WY bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,078 shares of the pipeline company’s stock, valued at approximately $48,000.

A number of other institutional investors have also recently modified their holdings of the stock. Garde Capital Inc. bought a new position in shares of Enbridge in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge during the 1st quarter worth $28,000. GeoWealth Management LLC grew 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 acquiring an additional 611 shares during the last quarter. Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Enbridge during the 4th quarter worth $39,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 0.7%

Shares of Enbridge stock opened at $45.07 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. Enbridge Inc has a 52-week low of $36.07 and a 52-week high of $47.44. The stock has a market capitalization of $98.27 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 4.21 and a beta of 0.79. The company’s 50 day moving average price is $45.37 and its 200-day moving average price is $44.43.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period in the previous year, the company 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 firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a $0.679 dividend. The ex-dividend date of this dividend 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 6.03%. Enbridge’s dividend payout ratio is 140.21%.

Analyst Ratings Changes

Several brokerages recently issued reports on ENB. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Finally, National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus 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.