Enbridge Inc $ENB Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,297,477 shares of the pipeline company’s stock after buying an additional 1,892,491 shares during the quarter. Vanguard Group Inc. owned approximately 4.51% of Enbridge worth $4,959,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ENB. Tsfg LLC raised its holdings in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares during the last quarter. Highline Wealth Partners LLC grew its position in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the period. Whipplewood Advisors LLC grew its position in shares of Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares during the period. True Wealth Design LLC increased its stake in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Enbridge during the second quarter worth about $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ENB. National Bank Financial restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday. Finally, Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Trading Down 4.5%

NYSE:ENB opened at $51.46 on Wednesday. The business’s 50-day moving average is $48.15 and its two-hundred day moving average is $48.09. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $54.19. The firm has a market capitalization of $112.28 billion, a PE ratio of 22.37 and a beta of 0.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a return on equity of 11.01% and a net margin of 11.30%.During the same quarter in the prior year, the business earned $0.75 earnings per share. Research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.5%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio is 116.96%.

About Enbridge

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.