Federated Hermes Inc. Trims Stock Holdings in Enbridge Inc $ENB

Federated Hermes Inc. lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 4,887,411 shares of the pipeline company’s stock after selling 50,538 shares during the period. Federated Hermes Inc.’s holdings in Enbridge were worth $246,619,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. IHT Wealth Management LLC boosted its stake in Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after acquiring an additional 213 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Enbridge by 1.8% in the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 215 shares in the last quarter. Copperleaf Capital LLC lifted its position in shares of Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 217 shares during the last quarter. South Plains Financial Inc. grew its stake in Enbridge by 13.2% in the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Enbridge by 1.2% in the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after buying an additional 221 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ENB shares. Weiss Ratings downgraded Enbridge from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Scotiabank raised shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.00.

Enbridge Trading Up 0.3%

NYSE:ENB opened at $48.02 on Wednesday. The stock has a market cap of $104.76 billion, a price-to-earnings ratio of 26.38 and a beta of 0.68. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The business has a fifty day moving average of $47.39 and a 200-day moving average of $47.52.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 8.1%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s payout ratio is 147.80%.

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.