World Investment Advisors Has $1.74 Million Holdings in Enbridge Inc $ENB

World Investment Advisors raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 44.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,411 shares of the pipeline company’s stock after buying an additional 11,164 shares during the quarter. World Investment Advisors’ holdings in Enbridge were worth $1,742,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tsfg LLC grew its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares in the last quarter. Triumph Capital Management acquired a new stake in Enbridge during the third quarter worth about $26,000. Turning Point Benefit Group Inc. acquired a new stake in Enbridge during the third quarter worth about $28,000. Garner Asset Management Corp acquired a new stake in Enbridge during the fourth quarter worth about $30,000. Finally, Imprint Wealth LLC acquired a new stake in Enbridge during the third quarter worth about $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 1.6%

NYSE ENB opened at $55.31 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.69. The stock’s 50 day moving average is $53.88 and its two-hundred day moving average is $50.40. The company has a market capitalization of $120.79 billion, a price-to-earnings ratio of 25.97 and a beta of 0.59. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $56.22.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the previous year, the business earned $1.03 earnings per share. Equities analysts forecast that Enbridge Inc will post 2.17 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s payout ratio is presently 130.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

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.