Patriot Financial Group Insurance Agency LLC Acquires 3,132 Shares of Enbridge Inc $ENB

Patriot Financial Group Insurance Agency LLC raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,634 shares of the pipeline company’s stock after acquiring an additional 3,132 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $2,023,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Dagco Inc. bought a new position in Enbridge in the first quarter valued at approximately $25,000. Garde Capital Inc. bought a new position in shares of Enbridge during the first quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge during the first quarter worth $28,000. Accent Capital Management LLC bought a new position in shares of Enbridge during the first quarter worth $30,000. Finally, Wolff Wiese Magana LLC boosted its position in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 365 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.2%

ENB opened at $49.69 on Friday. The stock has a market capitalization of $108.35 billion, a P/E ratio of 24.48, a P/E/G ratio of 4.54 and a beta of 0.78. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The firm’s fifty day simple moving average is $47.96 and its 200 day simple moving average is $46.04. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the firm posted $0.58 EPS. As a group, research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.5%. Enbridge’s payout ratio is presently 134.98%.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, Argus lifted their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and five 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 $60.50.

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.