Enbridge Inc $ENB Stock Purchased by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors increased its Enbridge position by 7.8% in the third quarter, bringing its holdings to 339,168 shares valued at approximately $15.98 million. Institutional investors collectively own 54.6% of the company.
• Analyst sentiment improved, with several brokerages upgrading Enbridge to “outperform” or “strong buy.” The stock has a consensus rating of “Moderate Buy” and an average price target of $65.88.
• Enbridge reported quarterly earnings of $0.46 per share, exceeding estimates of $0.43, while its quarterly dividend of C$0.97 represents an annualized yield of about 8.1%.

Foster Victor Wealth Advisors LLC grew its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 339,168 shares of the pipeline company's stock after acquiring an additional 24,408 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Enbridge were worth $15,982,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. City State Bank grew its stake in shares of Enbridge by 9.2% in the 3rd quarter. City State Bank now owns 11,857 shares of the pipeline company's stock valued at $551,000 after purchasing an additional 1,000 shares during the period. Integrated Advisors Network LLC grew its holdings in Enbridge by 19.1% during the 3rd quarter. Integrated Advisors Network LLC now owns 9,429 shares of the pipeline company's stock worth $438,000 after acquiring an additional 1,513 shares during the last quarter. Capital Management Associates Inc increased its holdings in shares of Enbridge by 13.9% in the third quarter. Capital Management Associates Inc now owns 4,825 shares of the pipeline company's stock valued at $224,000 after purchasing an additional 590 shares in the last quarter. CWA Asset Management Group LLC increased its position in Enbridge by 15.3% in the third quarter. CWA Asset Management Group LLC now owns 115,750 shares of the pipeline company's stock worth $5,381,000 after purchasing an additional 15,328 shares during the period. Finally, CFS Investment Advisory Services LLC acquired a new stake in shares of Enbridge during the 3rd quarter worth approximately $218,000. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ENB. Wolfe Research set a $50.00 price target on Enbridge in a research note on Tuesday, August 4th. National Bank Financial raised Enbridge from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. BMO Capital Markets upgraded Enbridge from a "market perform" rating to an "outperform" rating and set a $79.50 price objective for the company in a report on Monday, September 14th. Scotiabank upgraded Enbridge to a "strong-buy" rating in a research note on Thursday, September 17th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $65.88.

Enbridge Stock Up 0.2%

Shares of NYSE ENB opened at $47.99 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The company has a market cap of $106.97 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 5.70 and a beta of 0.60. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The stock has a 50-day moving average price of $48.59 and a two-hundred day moving average price of $52.59.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period in the previous year, the firm posted $0.65 EPS. As a group, analysts forecast that Enbridge Inc will post 2.10 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a dividend of C$0.97 per share. The ex-dividend date was Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 8.1%. Enbridge's dividend payout ratio (DPR) is presently 147.06%.

About Enbridge

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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