Enbridge Inc (NYSE:ENB) Shares Purchased by Lewis Asset Management LLC

Lewis Asset Management LLC boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,604 shares of the pipeline company’s stock after purchasing an additional 1,688 shares during the period. Lewis Asset Management LLC’s holdings in Enbridge were worth $647,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new stake in Enbridge in the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at $28,000. GeoWealth Management LLC lifted its position in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in shares of Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at $39,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 0.7%

NYSE ENB opened at $45.07 on Monday. Enbridge Inc has a 1-year low of $36.32 and a 1-year high of $47.44. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $98.27 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 4.23 and a beta of 0.79. The firm’s fifty day simple moving average is $45.37 and its 200-day simple moving average is $44.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.03%. Enbridge’s dividend payout ratio is 139.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ENB shares. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus 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.