Cyndeo Wealth Partners LLC Takes $361,000 Position in Enbridge Inc $ENB

Cyndeo Wealth Partners LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,972 shares of the pipeline company’s stock, valued at approximately $361,000.

Other large investors have also made changes to their positions in the company. Dagco Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $28,000. Accent Capital Management LLC acquired a new stake in shares of Enbridge during the first quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Enbridge by 91.3% during the first 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 period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $47.67 on Friday. The company’s fifty day moving average is $48.41 and its 200-day moving average is $46.26. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The firm has a market cap of $103.96 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 4.37 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 announced 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. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the prior year, the business posted $0.58 EPS. Equities analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ENB shares. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.50.

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.