Enbridge Inc $ENB Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,297,477 shares of the pipeline company’s stock after buying an additional 1,892,491 shares during the period. Vanguard Group Inc.’s holdings in Enbridge were worth $4,959,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. Westwood Holdings Group Inc. increased its stake in shares of Enbridge by 83.1% in the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after purchasing an additional 1,044,093 shares during the period. Envestnet Asset Management Inc. grew its holdings in Enbridge by 0.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after buying an additional 32,268 shares in the last quarter. Jones Financial Companies Lllp increased its position in Enbridge by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after acquiring an additional 221,976 shares during the period. Principal Financial Group Inc. raised its stake in Enbridge by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after acquiring an additional 24,165 shares in the last quarter. Finally, Aviva PLC raised its stake in Enbridge by 6.7% during the 2nd quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock valued at $80,959,000 after acquiring an additional 112,305 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 4.5%

ENB stock opened at $51.46 on Wednesday. The firm has a market cap of $112.28 billion, a PE ratio of 22.37 and a beta of 0.69. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $54.19. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $48.15 and a 200 day simple moving average of $48.09.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.01% and a net margin of 11.30%.The company had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is presently 116.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ENB. Royal Bank Of Canada raised their price target on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.

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.