LFG Wealth Partners LLC Makes New $1.47 Million Investment in Enbridge Inc $ENB

LFG Wealth Partners LLC purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 30,723 shares of the pipeline company’s stock, valued at approximately $1,469,000.

A number of other large investors have also recently bought and sold shares of ENB. Norges Bank acquired a new stake in Enbridge during the 4th quarter worth about $1,195,559,000. Bank of Nova Scotia boosted its position in shares of Enbridge by 118.0% during 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Enbridge by 2.1% during 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 in the last quarter. Raymond James Financial Inc. boosted its position in shares of Enbridge by 43.7% during 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 in the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Enbridge during the 3rd quarter worth about $88,407,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB opened at $55.94 on Tuesday. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The stock has a 50 day moving average price of $54.87 and a two-hundred day moving average price of $51.73. The firm has a market capitalization of $122.15 billion, a P/E ratio of 26.26 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $1.03 earnings per share. Equities analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ENB shares. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.