Meristem Family Wealth LLC Purchases New Stake in Enbridge Inc. (NYSE:ENB)

Meristem Family Wealth LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,583 shares of the pipeline company’s stock, valued at approximately $203,000.

Several other hedge funds have also recently bought and sold shares of the stock. Lindbrook Capital LLC increased its position in Enbridge by 68.6% in the first quarter. Lindbrook Capital LLC now owns 713 shares of the pipeline company’s stock worth $26,000 after buying an additional 290 shares during the period. Piscataqua Savings Bank acquired a new stake in Enbridge in the first quarter worth $32,000. Selective Wealth Management Inc. increased its position in Enbridge by 133.2% in the first quarter. Selective Wealth Management Inc. now owns 884 shares of the pipeline company’s stock worth $32,000 after buying an additional 505 shares during the period. Reby Advisors LLC acquired a new stake in Enbridge in the fourth quarter worth $29,000. Finally, Costello Asset Management INC acquired a new stake in Enbridge in the fourth quarter worth $31,000. 49.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of ENB stock opened at $39.79 on Friday. The company’s 50-day moving average price is $38.29. Enbridge Inc. has a fifty-two week low of $26.97 and a fifty-two week high of $40.42. The company has a market capitalization of $80.60 billion, a PE ratio of 16.93, a P/E/G ratio of 3.02 and a beta of 0.87. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 7th. The pipeline company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Enbridge had a return on equity of 8.68% and a net margin of 16.77%. The business had revenue of $9.35 billion during the quarter. Sell-side analysts expect that Enbridge Inc. will post 2.18 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 14th were given a $0.6778 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.81%. Enbridge’s dividend payout ratio (DPR) is 144.20%.

Several equities research analysts have weighed in on ENB shares. Stifel Nicolaus dropped their target price on Enbridge from $58.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, February 16th. Wells Fargo & Company raised their price target on Enbridge from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, May 17th. TD Securities raised their price target on Enbridge from $53.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, February 16th. Tudor Pickering reissued a “buy” rating and set a C$52.00 price target on shares of Enbridge in a report on Friday. Finally, CIBC lowered their price target on Enbridge from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 16th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $51.82.

About Enbridge

Enbridge Inc 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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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