St. James Investment Company LLC decreased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 768,490 shares of the pipeline company's stock after selling 10,057 shares during the period. Enbridge makes up about 5.7% of St. James Investment Company LLC's portfolio, making the stock its 7th largest position. St. James Investment Company LLC's holdings in Enbridge were worth $34,052,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ENB. Vanguard Group Inc. grew its holdings in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Enbridge in the fourth quarter valued at approximately $909,415,000. 54.60% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ENB. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $67.00.
View Our Latest Analysis on Enbridge
Enbridge Price Performance
NYSE ENB traded down $0.03 during trading hours on Thursday, reaching $44.76. 1,487,266 shares of the stock traded hands, compared to its average volume of 3,949,305. The stock has a 50 day simple moving average of $45.79 and a two-hundred day simple moving average of $44.17. Enbridge Inc has a 1 year low of $35.10 and a 1 year high of $47.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The company has a market cap of $97.58 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter last year, the business posted $0.92 earnings per share. On average, analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.
Enbridge Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.07%. Enbridge's dividend payout ratio is 140.21%.
Enbridge Company Profile
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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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