Inscription Capital LLC bought a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,465 shares of the pipeline company's stock, valued at approximately $685,000.
Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Enbridge during the fourth quarter valued at approximately $909,415,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock worth $510,816,000 after acquiring an additional 9,621,425 shares during the last quarter. Blackstone Inc. grew its position in shares of Enbridge by 650.7% during the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after acquiring an additional 4,956,379 shares during the period. Deutsche Bank AG grew its position in shares of Enbridge by 13.9% during the 4th 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 during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Enbridge in the 4th quarter worth $180,941,000. Institutional investors own 54.60% of the company's stock.
Enbridge Trading Down 2.1%
Shares of ENB stock traded down $0.98 during trading hours on Wednesday, reaching $44.99. 4,810,318 shares of the stock were exchanged, compared to its average volume of 3,998,867. The firm has a market capitalization of $98.10 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 4.33 and a beta of 0.81. Enbridge Inc has a 12-month low of $34.60 and a 12-month high of $47.44. The company's 50-day moving average price is $45.64 and its 200-day moving average price is $44.03. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.
Enbridge Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a dividend of $0.679 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.04%. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is presently 140.21%.
Wall Street Analyst Weigh In
ENB has been the topic of several analyst reports. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial upgraded 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 report on Monday, May 12th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.
Check Out Our Latest Analysis on ENB
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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