CFM Wealth Partners LLC Has $598,000 Stock Position in Enbridge Inc. (NYSE:ENB)

CFM Wealth Partners LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 114.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,534 shares of the pipeline company’s stock after purchasing an additional 8,828 shares during the period. CFM Wealth Partners LLC’s holdings in Enbridge were worth $598,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. S.E.E.D. Planning Group LLC increased its position in shares of Enbridge by 81.1% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock worth $8,272,000 after purchasing an additional 102,850 shares during the period. Clarius Group LLC increased its position in shares of Enbridge by 25.2% in the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 1,617 shares during the period. Private Trust Co. NA increased its position in shares of Enbridge by 5.7% in the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 473 shares during the period. Vanguard Group Inc. increased its position in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Finally, International Assets Investment Management LLC grew its position in Enbridge by 323.4% in the fourth quarter. International Assets Investment Management LLC now owns 665,413 shares of the pipeline company’s stock valued at $239,680,000 after acquiring an additional 508,258 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.0 %

Shares of NYSE:ENB traded up $0.34 during midday trading on Wednesday, hitting $35.35. 4,978,494 shares of the stock were exchanged, compared to its average volume of 5,740,967. The stock has a market capitalization of $75.15 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 3.28 and a beta of 0.90. 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 business’s 50-day moving average price is $35.93 and its 200 day moving average price is $35.63. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.66%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s payout ratio is 136.04%.

Analyst Upgrades and Downgrades

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