Natixis Advisors LLC raised its holdings in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 881,229 shares of the pipeline company’s stock after acquiring an additional 19,506 shares during the quarter. Natixis Advisors LLC’s holdings in Enbridge were worth $42,149,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. TD Asset Management Inc raised its holdings in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after buying an additional 137,897 shares during the period. Norges Bank acquired a new stake in Enbridge during the 4th quarter worth about $1,195,559,000. Geode Capital Management LLC raised its holdings in Enbridge by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after buying an additional 1,415,995 shares during the period. Finally, Legal & General Group Plc raised its holdings in Enbridge by 4.6% during the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after buying an additional 858,323 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on ENB shares. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.
Enbridge Price Performance
Shares of ENB opened at $55.87 on Thursday. The company has a market capitalization of $122.01 billion, a price-to-earnings ratio of 26.23 and a beta of 0.58. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The business’s 50-day moving average is $54.56 and its 200-day moving average is $51.27.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Equities research analysts expect that Enbridge Inc will post 2.2 EPS for the current fiscal year.
Enbridge Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is 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.
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