Enbridge Inc $ENB Shares Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lifted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,170,678 shares of the pipeline company’s stock after purchasing an additional 71,014 shares during the quarter. Enbridge comprises 1.7% of Miller Howard Investments Inc. NY’s holdings, making the stock its 16th largest position. Miller Howard Investments Inc. NY owned approximately 0.05% of Enbridge worth $63,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Triumph Capital Management purchased a new position in Enbridge during the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge in the 3rd quarter valued at $28,000. Inspire Investing LLC purchased a new stake in shares of Enbridge in the 4th quarter valued at $29,000. Garner Asset Management Corp acquired a new stake in shares of Enbridge in the fourth quarter worth $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Enbridge in the third quarter worth $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.7%

ENB stock opened at $55.71 on Wednesday. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The firm has a market cap of $121.65 billion, a P/E ratio of 26.15 and a beta of 0.58. The company’s 50-day simple moving average is $54.95 and its 200-day simple moving average is $52.02.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the business earned $1.03 EPS. As a group, equities analysts forecast that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was 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 133.80%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Royal Bank Of Canada upped their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge 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.