Passumpsic Savings Bank purchased a new position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,281 shares of the pipeline company’s stock, valued at approximately $587,000.
Several other institutional investors have also modified their holdings of ENB. Bank of Nova Scotia grew its stake in shares of Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after acquiring an additional 5,157,030 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Enbridge by 43.7% in the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after acquiring an additional 2,016,674 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Enbridge in the third quarter worth $88,407,000. Finally, Kayne Anderson Capital Advisors LP grew its stake in shares of Enbridge by 48.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock worth $232,477,000 after acquiring an additional 1,508,300 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.
Analyst Ratings Changes
Several research firms have commented on ENB. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average price target of $66.50.
Enbridge Stock Performance
Shares of ENB stock opened at $55.31 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average price of $53.88 and a 200 day moving average price of $50.43. The company has a market cap of $120.79 billion, a P/E ratio of 25.97 and a beta of 0.59. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $56.22.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.17 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge’s payout ratio is presently 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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