Ewing Morris & Co. Investment Partners Ltd. bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 26,478 shares of the pipeline company's stock, valued at approximately $1,123,000.
Other institutional investors also recently bought and sold shares of the company. Barclays PLC raised its holdings in Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company's stock valued at $23,717,000 after acquiring an additional 44,675 shares during the period. JPMorgan Chase & Co. raised its holdings in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock valued at $655,556,000 after acquiring an additional 176,733 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in shares of Enbridge by 9.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 29,198 shares of the pipeline company's stock worth $1,239,000 after purchasing an additional 2,563 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after purchasing an additional 536,818 shares during the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in shares of Enbridge by 81.4% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,560 shares of the pipeline company's stock worth $66,000 after purchasing an additional 700 shares during the last quarter. 54.60% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on ENB shares. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Raymond James upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Finally, Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.
View Our Latest Analysis on ENB
Enbridge Stock Performance
Shares of ENB traded up $0.32 during trading hours on Friday, reaching $46.10. 4,541,922 shares of the company traded hands, compared to its average volume of 4,138,844. The stock has a market capitalization of $100.50 billion, a P/E ratio of 26.80, a P/E/G ratio of 3.92 and a beta of 0.84. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.08. The business has a fifty day moving average price of $44.24 and a 200-day moving average price of $43.33.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period in the prior year, the company earned $0.92 earnings per share. Equities analysts anticipate 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, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.89%. Enbridge's dividend payout ratio (DPR) is currently 139.69%.
Enbridge Company Profile
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Free Report)
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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