Apollon Wealth Management LLC Buys 94,025 Shares of Enbridge Inc $ENB

Apollon Wealth Management LLC lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 317.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,663 shares of the pipeline company’s stock after purchasing an additional 94,025 shares during the quarter. Apollon Wealth Management LLC’s holdings in Enbridge were worth $6,695,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ENB. Exchange Traded Concepts LLC lifted its holdings in shares of Enbridge by 3.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after purchasing an additional 41,601 shares during the period. Viking Fund Management LLC increased its holdings in Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after purchasing an additional 61,500 shares during the period. Third View Private Wealth LLC acquired a new stake in Enbridge in the fourth quarter valued at $3,691,000. Swiss Life Asset Management Ltd raised its position in Enbridge by 19.2% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after purchasing an additional 44,524 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ENB shares. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Royal Bank Of Canada upped their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company 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 research report on Saturday. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Price Performance

Enbridge stock opened at $55.41 on Tuesday. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The business’s 50 day simple moving average is $55.18 and its 200 day simple moving average is $52.24. The company has a market cap of $121.02 billion, a price-to-earnings ratio of 26.01 and a beta of 0.58.

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 firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period last year, the company earned $1.03 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

Enbridge Company 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.