HBW Advisory Services LLC Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

HBW Advisory Services LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,820 shares of the pipeline company’s stock after acquiring an additional 850 shares during the quarter. HBW Advisory Services LLC’s holdings in Enbridge were worth $3,758,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC increased its stake in Enbridge by 8.7% during the 1st quarter. Merit Financial Group LLC now owns 31,602 shares of the pipeline company’s stock worth $1,400,000 after buying an additional 2,529 shares during the period. O Keefe Stevens Advisory Inc. increased its position in shares of Enbridge by 22.4% during the first quarter. O Keefe Stevens Advisory Inc. now owns 25,983 shares of the pipeline company’s stock worth $1,151,000 after acquiring an additional 4,753 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Enbridge by 123,872.7% in the first quarter. NBC Securities Inc. now owns 13,637 shares of the pipeline company’s stock worth $604,000 after acquiring an additional 13,626 shares in the last quarter. Fiduciary Alliance LLC boosted its holdings in Enbridge by 1.7% in the first quarter. Fiduciary Alliance LLC now owns 20,052 shares of the pipeline company’s stock valued at $888,000 after purchasing an additional 341 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC grew its stake in Enbridge by 1.1% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 29,517 shares of the pipeline company’s stock valued at $1,308,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ENB. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.00.

Enbridge Stock Up 1.5%

Shares of NYSE:ENB opened at $47.16 on Tuesday. The company’s fifty day moving average is $44.98 and its two-hundred day moving average is $43.77. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.23. The stock has a market capitalization of $102.80 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a $0.679 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.76%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

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.