Aegis Wealth Management LLC acquired a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,199 shares of the pipeline company's stock, valued at approximately $348,000.
Other large investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its holdings in Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after purchasing an additional 7,986 shares in the last quarter. Aviso Financial Inc. lifted its stake in Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock valued at $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Vanguard Group Inc. lifted its stake in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. Greenland Capital Management LP raised its holdings in Enbridge by 189.1% in the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock valued at $1,502,000 after acquiring an additional 23,160 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Enbridge by 20.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock valued at $289,044,000 after acquiring an additional 1,135,000 shares during the period. Institutional investors own 54.60% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $67.00.
View Our Latest Research Report on Enbridge
Enbridge Stock Up 1.4%
ENB traded up $0.65 during midday trading on Friday, hitting $46.50. The company had a trading volume of 4,106,198 shares, compared to its average volume of 4,060,241. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock's 50 day moving average price is $44.93 and its 200 day moving average price is $43.74. The company has a market capitalization of $101.37 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a 52 week low of $34.60 and a 52 week high of $47.08.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 5.84%. Enbridge's payout ratio is 139.69%.
About Enbridge
(
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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