Kellett Wealth Advisors LLC Increases Stock Holdings in Enbridge Inc $ENB

Kellett Wealth Advisors LLC increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.6% in the second quarter, Holdings Channel.com reports. The firm owned 13,546 shares of the pipeline company’s stock after purchasing an additional 2,500 shares during the period. Kellett Wealth Advisors LLC’s holdings in Enbridge were worth $614,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dagco Inc. purchased a new stake in Enbridge during the first quarter valued at about $25,000. Garde Capital Inc. purchased a new stake in Enbridge during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge during the first quarter valued at about $28,000. Accent Capital Management LLC purchased a new stake in Enbridge during the first quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Finally, CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.50.

Enbridge Trading Up 0.1%

Shares of ENB opened at $47.74 on Tuesday. The company has a market capitalization of $104.10 billion, a P/E ratio of 23.51, a P/E/G ratio of 4.38 and a beta of 0.78. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a 50-day moving average price of $48.44 and a 200 day moving average price of $46.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the prior year, the business posted $0.58 earnings per share. Sell-side analysts forecast 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. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

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.