Gratus Wealth Advisors LLC Makes New Investment in Enbridge Inc $ENB

Gratus Wealth Advisors LLC acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, Holdings Channel.com reports. The fund acquired 4,443 shares of the pipeline company’s stock, valued at approximately $201,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Enbridge by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after buying an additional 25,071 shares during the last quarter. Loudon Investment Management LLC lifted its position in Enbridge by 40.6% during the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after acquiring an additional 8,600 shares during the period. 111 Capital purchased a new stake in Enbridge during the 2nd quarter valued at about $1,887,000. Hartline Investment Corp increased its holdings in shares of Enbridge by 31.3% in the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock valued at $1,600,000 after purchasing an additional 8,610 shares during the period. Finally, JBR Co Financial Management Inc purchased a new position in shares of Enbridge in the first quarter worth about $330,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB opened at $50.11 on Monday. The firm’s fifty day simple moving average is $48.06 and its two-hundred day simple moving average is $46.12. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a market cap of $109.27 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 4.58 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion during 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 quarter in the prior year, the firm earned $0.58 EPS. Equities 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 Monday, September 1st. Investors of record on Friday, August 15th were paid a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.5%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is currently 134.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ENB shares. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Saturday, September 27th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.50.

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.