BKM Wealth Management LLC Takes Position in Enbridge Inc $ENB

BKM Wealth Management LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,238 shares of the pipeline company’s stock, valued at approximately $192,000.

A number of other institutional investors also recently modified their holdings of the company. Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of Enbridge by 32.1% in the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 14,431 shares of the pipeline company’s stock valued at $654,000 after purchasing an additional 3,508 shares during the last quarter. Novare Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter valued at $200,000. Koshinski Asset Management Inc. boosted its stake in shares of Enbridge by 73.6% in the 2nd quarter. Koshinski Asset Management Inc. now owns 11,679 shares of the pipeline company’s stock valued at $529,000 after purchasing an additional 4,953 shares during the last quarter. Hartline Investment Corp boosted its stake in shares of Enbridge by 9.0% in the 2nd quarter. Hartline Investment Corp now owns 39,338 shares of the pipeline company’s stock valued at $1,783,000 after purchasing an additional 3,240 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Enbridge by 4.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 46,640 shares of the pipeline company’s stock valued at $2,114,000 after purchasing an additional 2,017 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, October 8th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.50.

Enbridge Stock Down 0.3%

Enbridge stock opened at $47.07 on Friday. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The firm has a market capitalization of $102.64 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 4.32 and a beta of 0.78. The firm’s fifty day moving average price is $48.47 and its two-hundred day moving average price is $46.36. 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 released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period last year, the firm earned $0.58 earnings per share. On average, equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is 134.98%.

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.