BankPlus Wealth Management LLC Acquires 274 Shares of Enbridge Inc $ENB

BankPlus Wealth Management LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,090 shares of the pipeline company’s stock after purchasing an additional 274 shares during the quarter. BankPlus Wealth Management LLC’s holdings in Enbridge were worth $638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. Dagco Inc. bought a new position in Enbridge during the first quarter worth about $25,000. Garde Capital Inc. bought a new position in Enbridge during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC bought a new position in Enbridge during the first quarter worth about $30,000. Finally, Wolff Wiese Magana LLC boosted its position in Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 365 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of analyst reports. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Argus boosted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Trading Down 0.8%

ENB stock opened at $49.57 on Friday. The company has a market capitalization of $108.11 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 4.57 and a beta of 0.80. Enbridge Inc has a one year low of $39.73 and a one year high of $50.15. The company’s 50 day moving average price is $47.49 and its two-hundred day moving average price is $45.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is 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.