Soltis Investment Advisors LLC Has $8.82 Million Stake in Enbridge Inc $ENB

Soltis Investment Advisors LLC raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 184,381 shares of the pipeline company’s stock after purchasing an additional 13,182 shares during the period. Soltis Investment Advisors LLC’s holdings in Enbridge were worth $8,819,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tsfg LLC lifted its position in shares of Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares in the last quarter. Triumph Capital Management bought a new position in shares of Enbridge during the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the 3rd quarter worth approximately $28,000. Garner Asset Management Corp bought a new position in shares of Enbridge during the 4th quarter worth approximately $30,000. Finally, Imprint Wealth LLC bought a new position in shares of Enbridge during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 1.6%

NYSE:ENB opened at $55.31 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $120.79 billion, a PE ratio of 25.97 and a beta of 0.59. The firm’s 50 day moving average is $53.88 and its 200 day moving average is $50.40. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $56.22.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the firm posted $1.03 EPS. Sell-side analysts expect that Enbridge Inc will post 2.17 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s payout ratio is 130.52%.

Analysts Set New Price Targets

Several research firms have commented on ENB. Royal Bank Of Canada lifted their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.