Patriot Financial Group Insurance Agency LLC Has $5.13 Million Position in Enbridge Inc $ENB

Patriot Financial Group Insurance Agency LLC lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 80.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,744 shares of the pipeline company’s stock after acquiring an additional 42,341 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $5,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Triumph Capital Management acquired a new stake in Enbridge during the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. acquired a new position in Enbridge in the third quarter valued at approximately $28,000. Inspire Investing LLC acquired a new position in Enbridge in the fourth quarter valued at approximately $29,000. 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. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on ENB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Royal Bank Of Canada increased their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Trading Up 0.1%

NYSE ENB opened at $56.24 on Friday. The company has a market cap of $122.84 billion, a price-to-earnings ratio of 26.41 and a beta of 0.58. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The business has a 50 day moving average price of $55.12 and a 200-day moving average price of $52.15. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same period last year, the business earned $1.03 EPS. As a group, equities analysts expect that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.9%. Enbridge’s dividend payout ratio is presently 133.80%.

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.