Keudell Morrison Wealth Management Makes New $1.03 Million Investment in Enbridge Inc $ENB

Keudell Morrison Wealth Management purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,529 shares of the pipeline company’s stock, valued at approximately $1,030,000.

A number of other large investors have also bought and sold shares of ENB. Bank of Nova Scotia increased its stake in Enbridge by 118.0% in the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after purchasing an additional 5,157,030 shares during the period. Vanguard Group Inc. increased its stake in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. Raymond James Financial Inc. increased its stake in Enbridge by 43.7% in the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after purchasing an additional 2,016,674 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in Enbridge in the 3rd quarter worth approximately $88,407,000. Finally, Kayne Anderson Capital Advisors LP increased its stake in Enbridge by 48.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock worth $232,477,000 after purchasing an additional 1,508,300 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.2%

NYSE ENB opened at $57.78 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.20. The firm has a market capitalization of $126.18 billion, a PE ratio of 27.13 and a beta of 0.59. The stock’s 50 day moving average is $54.13 and its 200 day moving average is $50.71.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Research analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.7%. Enbridge’s payout ratio is currently 133.80%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ENB shares. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.