Brookstone Capital Management Grows Stock Holdings in Enbridge Inc $ENB

Brookstone Capital Management boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 84,068 shares of the pipeline company’s stock after purchasing an additional 10,752 shares during the quarter. Brookstone Capital Management’s holdings in Enbridge were worth $4,551,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. Triumph Capital Management acquired a new stake in shares of Enbridge during the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. purchased a new stake in Enbridge during the 3rd quarter worth approximately $28,000. Inspire Investing LLC purchased a new stake in Enbridge during the 4th quarter worth approximately $29,000. Garner Asset Management Corp purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $30,000. Finally, Imprint Wealth LLC purchased a new position in Enbridge in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.7%

Shares of Enbridge stock opened at $55.71 on Wednesday. The stock has a 50 day moving average of $54.95 and a 200 day moving average of $52.02. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market capitalization of $121.65 billion, a price-to-earnings ratio of 26.15 and a beta of 0.58. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating 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 the consensus estimate of $8.49 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. As a group, research analysts predict that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada raised 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. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.50.

About Enbridge

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.