Enbridge Inc $ENB Stock: M&G PLC Increases Holdings

Key Points

• M&G PLC increased its Enbridge stake by 14.3% in the third quarter, adding 277,826 shares to reach 2.22 million shares, valued at about $103 million. Institutional investors and hedge funds own 54.6% of the company.
• Enbridge reported quarterly EPS of $0.39, beating the $0.36 consensus estimate. It declared a quarterly dividend of C$0.97 per share, equivalent to an annualized yield of 8.2%; its payout ratio was 134.8%.
• Analysts’ consensus rating was “Moderate Buy,” with an average target price of $65.88. Among the 15 analysts cited, one rated the stock Strong Buy, nine Buy, and five Hold.

M&G PLC lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,215,296 shares of the pipeline company's stock after purchasing an additional 277,826 shares during the quarter. M&G PLC owned 0.10% of Enbridge worth $102,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Planning Group LLC boosted its holdings in shares of Enbridge by 3.6% in the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company's stock valued at $290,000 after buying an additional 187 shares during the period. Bank & Trust Co increased its position in shares of Enbridge by 0.6% during the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company's stock worth $1,804,000 after purchasing an additional 193 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Enbridge by 0.6% during the second quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company's stock worth $1,710,000 after acquiring an additional 194 shares in the last quarter. Clearwave Capital LLC raised its holdings in shares of Enbridge by 0.9% in the 2nd quarter. Clearwave Capital LLC now owns 22,033 shares of the pipeline company's stock valued at $1,194,000 after purchasing an additional 204 shares during the period. Finally, Clifford Swan Investment Counsel LLC lifted its position in shares of Enbridge by 2.9% in the second quarter. Clifford Swan Investment Counsel LLC now owns 7,383 shares of the pipeline company's stock valued at $400,000 after buying an additional 206 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 1.0%

Enbridge stock opened at $47.37 on Tuesday. The firm has a market cap of $105.59 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 5.86 and a beta of 0.59. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The firm has a 50 day moving average price of $48.04 and a two-hundred day moving average price of $52.18.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, November 6th. The pipeline company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The business had revenue of $21.08 billion for the quarter, compared to analysts' expectations of $9.62 billion. Equities analysts predict that Enbridge Inc will post 2.08 EPS for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a C$0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date is Friday, November 13th. Enbridge's dividend payout ratio (DPR) is presently 134.80%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ENB shares. TD raised shares of Enbridge to a "buy" rating in a report on Tuesday, September 15th. BMO Capital Markets raised Enbridge from a "market perform" rating to an "outperform" rating and set a $79.50 target price on the stock in a report on Monday, September 14th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Enbridge in a research report on Thursday, October 22nd. Scotiabank upgraded Enbridge to a "strong-buy" rating in a research report on Thursday, September 17th. Finally, Weiss Ratings lowered Enbridge from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.88.

Enbridge Company Profile

Enbridge Inc is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses.

Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.

Enbridge also invests in renewable power, including wind and solar projects, alongside its energy transportation and distribution operations.

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