Premier Fund Managers Ltd Boosts Holdings in Enbridge Inc $ENB

Key Points

• Premier Fund Managers increased its stake in Enbridge by 14.4% in Q4 to 363,354 shares (adding 45,800 shares) valued at about $17.45 million.
• Enbridge declared a quarterly dividend of $0.97 (ex-dividend May 15, payable June 1), implying a $3.88 annualized payout and a 7.2% yield with a payout ratio of 120.87%.
• Wall Street's consensus rating is a Moderate Buy with an average price target of $65 (seven Buy vs. six Hold analysts), and RBC recently raised its target to $76.

Premier Fund Managers Ltd grew its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 363,354 shares of the pipeline company's stock after purchasing an additional 45,800 shares during the quarter. Premier Fund Managers Ltd's holdings in Enbridge were worth $17,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tsfg LLC lifted its stake in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock worth $25,000 after acquiring an additional 379 shares during the last quarter. Triumph Capital Management purchased a new position in Enbridge in the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge in the third quarter worth approximately $28,000. Imprint Wealth LLC purchased a new position in Enbridge in the third quarter worth approximately $31,000. Finally, Garner Asset Management Corp purchased a new position in Enbridge in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ENB. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research note on Tuesday, February 17th. Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. TD Securities downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings upgraded shares of Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Enbridge Stock Down 1.2%

ENB stock opened at $54.24 on Thursday. The company has a fifty day moving average price of $53.66 and a 200 day moving average price of $50.05. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $55.49. The company has a market cap of $118.43 billion, a price-to-earnings ratio of 23.58 and a beta of 0.59. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. Sell-side analysts expect that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.2%. Enbridge's dividend payout ratio is 120.87%.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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