Compass Financial Management LLC Buys 25,277 Shares of Enbridge Inc $ENB

Key Points

• Compass Financial Management opened a new Enbridge position, buying 25,277 shares worth approximately $1.175 million in the third quarter. Institutional investors collectively own 54.6% of the company.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $65.88.
• Enbridge declared a quarterly dividend of C$0.97 per share, equivalent to C$3.88 annually and an indicated yield of 8.1%; its shares opened at $48.06.

Compass Financial Management LLC bought a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the third quarter, according to its most recent disclosure with the SEC. The firm bought 25,277 shares of the pipeline company's stock, valued at approximately $1,175,000.

Several other institutional investors have also modified their holdings of ENB. Deutsche Bank AG acquired a new position in shares of Enbridge during the 2nd quarter valued at about $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Enbridge by 18.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company's stock worth $1,117,353,000 after purchasing an additional 3,205,322 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Enbridge by 1.0% during the second quarter. TD Waterhouse Canada Inc. now owns 16,189,798 shares of the pipeline company's stock worth $863,952,000 after purchasing an additional 164,934 shares during the last quarter. Amundi raised its stake in Enbridge by 8.5% during the second quarter. Amundi now owns 11,948,497 shares of the pipeline company's stock worth $647,728,000 after purchasing an additional 936,435 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Enbridge by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company's stock worth $599,709,000 after purchasing an additional 268,800 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Enbridge in a report on Thursday, October 22nd. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. TD raised shares of Enbridge to a "buy" rating in a research report on Tuesday, September 15th. Royal Bank Of Canada upped their price objective on Enbridge from $79.00 to $84.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, National Bank Financial upgraded Enbridge from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.88.

Enbridge Stock Down 1.5%

Shares of NYSE:ENB opened at $48.06 on Friday. The company has a market capitalization of $107.12 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 5.86 and a beta of 0.59. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The business has a 50-day moving average price of $48.16 and a 200 day moving average price of $52.18. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a C$0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, November 13th. Enbridge's payout ratio is 147.06%.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company's operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.

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