BKM Wealth Management LLC Purchases 3,291 Shares of Enbridge Inc. (NYSE:ENB)

BKM Wealth Management LLC raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 23.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,180 shares of the pipeline company’s stock after purchasing an additional 3,291 shares during the quarter. BKM Wealth Management LLC’s holdings in Enbridge were worth $622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Successful Portfolios LLC grew its stake in shares of Enbridge by 17.9% in the first quarter. Successful Portfolios LLC now owns 7,373 shares of the pipeline company’s stock worth $267,000 after acquiring an additional 1,122 shares during the period. River Street Advisors LLC boosted its holdings in shares of Enbridge by 7.0% in the first quarter. River Street Advisors LLC now owns 22,847 shares of the pipeline company’s stock worth $827,000 after buying an additional 1,498 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in shares of Enbridge by 7.7% in the first quarter. Founders Financial Securities LLC now owns 51,178 shares of the pipeline company’s stock worth $1,852,000 after buying an additional 3,681 shares during the last quarter. Vicus Capital bought a new position in shares of Enbridge in the first quarter worth approximately $310,000. Finally, Alpha Omega Wealth Management LLC boosted its position in shares of Enbridge by 3.3% in the first quarter. Alpha Omega Wealth Management LLC now owns 133,259 shares of the pipeline company’s stock worth $4,821,000 after purchasing an additional 4,252 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB traded down $0.15 during midday trading on Monday, reaching $35.44. 1,332,462 shares of the company were exchanged, compared to its average volume of 5,677,481. The stock has a market cap of $75.63 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 3.34 and a beta of 0.92. The business’s fifty day moving average is $36.01 and its two-hundred day moving average is $35.63. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a one year low of $31.03 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. As a group, analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.64%. The ex-dividend date was Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

About Enbridge

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.