J. Safra Sarasin Holding AG Makes New $659,000 Investment in Enbridge Inc $ENB

J. Safra Sarasin Holding AG acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 13,054 shares of the pipeline company’s stock, valued at approximately $659,000.

Several other institutional investors have also recently made changes to their positions in the company. NWF Advisory Services Inc. boosted its position in shares of Enbridge by 16.9% during the third quarter. NWF Advisory Services Inc. now owns 6,341 shares of the pipeline company’s stock valued at $320,000 after purchasing an additional 917 shares in the last quarter. Bank of Jackson Hole Trust lifted its position in Enbridge by 9.6% during the third quarter. Bank of Jackson Hole Trust now owns 10,638 shares of the pipeline company’s stock valued at $537,000 after buying an additional 936 shares during the period. Callahan Advisors LLC boosted its holdings in shares of Enbridge by 1.5% during the 3rd quarter. Callahan Advisors LLC now owns 120,065 shares of the pipeline company’s stock valued at $6,058,000 after buying an additional 1,755 shares in the last quarter. Sovran Advisors LLC purchased a new stake in shares of Enbridge in the 3rd quarter worth about $232,000. Finally, Lorne Steinberg Wealth Management Inc. bought a new position in shares of Enbridge in the 3rd quarter worth about $217,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENB. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Weiss Ratings downgraded Enbridge from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 1.5%

Enbridge stock opened at $49.27 on Friday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The stock has a fifty day simple moving average of $47.41 and a two-hundred day simple moving average of $47.54. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. The firm has a market cap of $107.48 billion, a price-to-earnings ratio of 27.07 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same period last year, the business earned $0.55 earnings per share. Equities analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio is presently 147.80%.

Enbridge Company Profile

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.