Apollon Wealth Management LLC Buys 4,454 Shares of Enbridge Inc. (NYSE:ENB)

Apollon Wealth Management LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,249 shares of the pipeline company’s stock after buying an additional 4,454 shares during the period. Apollon Wealth Management LLC’s holdings in Enbridge were worth $1,847,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Enbridge by 5.7% during the third 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. Wellington Management Group LLP increased its stake in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the last quarter. TD Asset Management Inc increased its holdings in Enbridge by 2.2% in the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after purchasing an additional 664,057 shares during the last quarter. Bank of Nova Scotia grew its position in Enbridge by 5.1% in the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after acquiring an additional 1,353,753 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Enbridge by 11.3% during the 3rd quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock worth $689,270,000 after buying an additional 2,101,021 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Performance

Shares of Enbridge stock traded up $0.16 on Wednesday, reaching $36.99. 974,758 shares of the stock were exchanged, compared to its average volume of 5,743,522. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $78.64 billion, a PE ratio of 17.61, a PEG ratio of 3.43 and a beta of 0.87. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.22. The business has a fifty day moving average price of $35.41 and a two-hundred day moving average price of $35.02.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.32%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 127.14%.

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.