Sax Wealth Advisors LLC Purchases Shares of 4,516 Enbridge Inc $ENB

Sax Wealth Advisors LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, HoldingsChannel reports. The institutional investor purchased 4,516 shares of the pipeline company’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Brighton Jones LLC acquired a new position in Enbridge during the fourth quarter valued at approximately $261,000. GeoWealth Management LLC lifted its position in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after buying an additional 611 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Enbridge by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,743,401 shares of the pipeline company’s stock valued at $116,400,000 after buying an additional 131,272 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Enbridge by 3.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 61,525 shares of the pipeline company’s stock valued at $2,611,000 after buying an additional 2,194 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new position in Enbridge during the fourth quarter valued at approximately $208,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ENB. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Finally, Argus boosted their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Trading Up 0.0%

ENB opened at $47.9450 on Monday. The stock has a market capitalization of $104.55 billion, a PE ratio of 23.62, a P/E/G ratio of 4.39 and a beta of 0.79. The firm’s fifty day moving average price is $45.69 and its 200 day moving average price is $44.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a 12-month low of $39.25 and a 12-month high of $48.29.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. Enbridge’s dividend payout ratio is currently 134.98%.

About Enbridge

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.