Golden State Wealth Management LLC Grows Stock Position in Enbridge Inc (NYSE:ENB)

Golden State Wealth Management LLC raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 527.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,274 shares of the pipeline company’s stock after acquiring an additional 12,838 shares during the period. Golden State Wealth Management LLC’s holdings in Enbridge were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ENB. Norges Bank bought a new stake in Enbridge in the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership raised its position in shares of Enbridge by 396.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Blackstone Inc. raised its position in shares of Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the period. Deutsche Bank AG lifted its stake in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Enbridge in the 4th quarter worth approximately $180,941,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the topic of several recent research reports. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $45.09 on Friday. Enbridge Inc has a 52-week low of $35.10 and a 52-week high of $47.44. The stock has a fifty day moving average of $45.83 and a 200 day moving average of $44.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The firm has a market capitalization of $98.30 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 4.19 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The company had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. During the same period in the prior year, the business earned $0.92 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date was Thursday, May 15th. Enbridge’s payout ratio is currently 140.21%.

Enbridge Company 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.