Capital Wealth Planning LLC Acquires 107,200 Shares of Enbridge Inc $ENB

Capital Wealth Planning LLC boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 49.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,615 shares of the pipeline company’s stock after acquiring an additional 107,200 shares during the quarter. Capital Wealth Planning LLC’s holdings in Enbridge were worth $15,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Triumph Capital Management bought a new stake in Enbridge during the third quarter worth about $26,000. Turning Point Benefit Group Inc. bought a new stake in Enbridge during the third quarter worth about $28,000. Imprint Wealth LLC bought a new stake in Enbridge during the third quarter worth about $31,000. Garner Asset Management Corp bought a new stake in Enbridge during the fourth quarter worth about $30,000. Finally, Gilpin Wealth Management LLC bought a new stake in Enbridge during the fourth quarter worth about $38,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of several research analyst reports. Royal Bank Of Canada upped their price objective 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. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Price Performance

Shares of ENB stock opened at $56.50 on Thursday. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The firm’s 50 day moving average is $54.73 and its 200-day moving average is $51.55. The firm has a market capitalization of $123.37 billion, a price-to-earnings ratio of 26.52 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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 net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

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.