Fayez Sarofim & Co bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,807 shares of the pipeline company's stock, valued at approximately $840,000.
Other institutional investors have also modified their holdings of the company. apricus wealth LLC increased its holdings in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC grew its stake in Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. raised its holdings in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after purchasing an additional 230 shares in the last quarter. Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after buying an additional 240 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Performance
Shares of ENB traded down $0.20 during mid-day trading on Friday, reaching $46.16. The company had a trading volume of 3,620,614 shares, compared to its average volume of 4,259,973. The stock has a market capitalization of $100.59 billion, a P/E ratio of 26.84, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $46.47. The stock has a 50 day moving average of $43.34 and a two-hundred day moving average of $42.95. 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 (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.
Enbridge Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.679 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.88%. Enbridge's dividend payout ratio (DPR) is 155.81%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on ENB shares. Raymond James raised shares of Enbridge to a "moderate buy" rating in a research report on Wednesday. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup assumed coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $67.00.
Read Our Latest Stock Analysis on ENB
Enbridge Company Profile
(
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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