Old North State Wealth Management LLC Acquires 1,215 Shares of Enbridge Inc (NYSE:ENB)

Old North State Wealth Management LLC increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.3% during the first quarter, HoldingsChannel reports. The firm owned 95,253 shares of the pipeline company’s stock after buying an additional 1,215 shares during the period. Enbridge comprises 2.4% of Old North State Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Old North State Wealth Management LLC’s holdings in Enbridge were worth $4,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. Garde Capital Inc. bought a new position in Enbridge in the 1st quarter worth $26,000. Wintrust Investments LLC increased its stake in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the last quarter. GeoWealth Management LLC increased its position in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 611 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after buying an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Enbridge during the 4th quarter valued at about $39,000. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 1.4%

NYSE:ENB opened at $45.09 on Friday. Enbridge Inc has a 12 month low of $35.10 and a 12 month high of $47.44. The firm has a fifty day simple moving average of $45.83 and a 200-day simple moving average of $44.10. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $98.30 billion, a P/E ratio of 23.24, a PEG ratio of 4.19 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period in the previous year, the business posted $0.92 EPS. On average, equities research analysts anticipate 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 Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 6.02%. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 140.21%.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.00.

About Enbridge

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.