Marcum Wealth LLC Buys 1,849 Shares of Enbridge Inc. (NYSE:ENB)

Marcum Wealth LLC increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,316 shares of the pipeline company’s stock after buying an additional 1,849 shares during the period. Marcum Wealth LLC’s holdings in Enbridge were worth $735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. Canoe Financial LP boosted its holdings in Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the period. Wellington Management Group LLP boosted its holdings in Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the period. Norges Bank bought a new position in Enbridge in the 4th quarter worth approximately $714,662,000. TD Asset Management Inc boosted its holdings in Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after buying an additional 7,536,678 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after buying an additional 4,400,848 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Enbridge stock opened at $34.69 on Friday. The firm’s fifty day moving average price is $35.86 and its 200-day moving average price is $35.61. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The stock has a market cap of $73.75 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. The firm had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. On average, equities research analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a dividend of $0.677 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.81%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group initiated coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.