Partners Group Holding AG decreased its stake in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 256,874 shares of the pipeline company’s stock after selling 30,892 shares during the quarter. Enbridge comprises about 0.8% of Partners Group Holding AG’s portfolio, making the stock its 26th largest holding. Partners Group Holding AG’s holdings in Enbridge were worth $12,272,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of ENB. Tsfg LLC lifted its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of Enbridge in the third quarter valued at $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge in the 3rd quarter worth about $28,000. Garner Asset Management Corp purchased a new position in Enbridge in the 4th quarter worth about $30,000. Finally, Imprint Wealth LLC purchased a new position in Enbridge in the 3rd quarter worth about $31,000. Institutional investors own 54.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on ENB. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.
Enbridge Stock Performance
ENB opened at $56.81 on Wednesday. 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 firm has a fifty day moving average price of $53.98 and a 200 day moving average price of $50.56. The stock has a market cap of $124.06 billion, a P/E ratio of 26.67 and a beta of 0.59. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $57.01.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the prior year, the business posted $1.03 earnings per share. Equities research analysts anticipate that Enbridge Inc will post 2.17 earnings per share for the current year.
Enbridge Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.8%. Enbridge’s dividend 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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