Bleakley Financial Group LLC Has $976,000 Stock Holdings in Enbridge Inc $ENB

Bleakley Financial Group LLC grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,536 shares of the pipeline company’s stock after purchasing an additional 1,852 shares during the period. Bleakley Financial Group LLC’s holdings in Enbridge were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Dagco Inc. bought a new position in Enbridge in the first quarter worth approximately $25,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge in the 1st quarter worth $28,000. Accent Capital Management LLC acquired a new stake in Enbridge in the 1st quarter valued at $30,000. FNY Investment Advisers LLC bought a new stake in Enbridge during the 2nd quarter valued at $36,000. Finally, Private Wealth Asset Management LLC raised its holdings in Enbridge by 289.7% during the second quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company’s stock worth $38,000 after buying an additional 620 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Argus lifted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. National Bankshares reissued 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 research report on Wednesday, July 23rd. Finally, Scotiabank reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, October 20th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.50.

Enbridge Stock Performance

ENB stock opened at $46.90 on Friday. The firm has a market cap of $102.27 billion, a PE ratio of 23.10, a P/E/G ratio of 4.32 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. The business has a 50 day moving average of $48.44 and a 200-day moving average of $46.53. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a $0.6839 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is presently 134.98%.

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.