Enbridge Inc $ENB Position Increased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,746 shares of the pipeline company’s stock after purchasing an additional 23,630 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Enbridge were worth $8,262,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tsfg LLC increased its stake 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 bought a new stake in Enbridge during the third quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new stake in Enbridge during the third quarter valued at $28,000. Garner Asset Management Corp bought a new stake in Enbridge during the fourth quarter valued at $30,000. Finally, Imprint Wealth LLC bought a new stake in Enbridge during the third quarter valued at $31,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ENB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Performance

Shares of ENB opened at $56.34 on Wednesday. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a market cap of $123.04 billion, a price-to-earnings ratio of 26.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a fifty day moving average of $54.47 and a 200-day moving average of $51.16.

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

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.9%. 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.