Enbridge Inc $ENB Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Enbridge Inc (NYSE:ENBFree Report) (TSE:ENB) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,296,273 shares of the pipeline company’s stock after purchasing an additional 153,346 shares during the period. Envestnet Asset Management Inc.’s holdings in Enbridge were worth $216,797,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ENB. Westwood Holdings Group Inc. boosted its position in Enbridge by 83.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock worth $104,284,000 after purchasing an additional 1,044,093 shares during the period. Mutual Advisors LLC raised its position in Enbridge by 25.3% in the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock valued at $2,338,000 after purchasing an additional 10,488 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Enbridge by 37.7% during the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after purchasing an additional 19,655 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Enbridge by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after buying an additional 221,976 shares during the period. Finally, Capital Advisors Inc. OK boosted its position in shares of Enbridge by 5.7% in the third quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company’s stock worth $48,026,000 after buying an additional 51,645 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.6%

ENB opened at $50.45 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.61. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The stock has a market capitalization of $110.06 billion, a PE ratio of 27.72 and a beta of 0.69. The firm’s fifty day moving average price is $47.57 and its 200 day moving average price is $47.68.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a return on equity of 10.51% and a net margin of 9.20%.During the same period in the previous year, the firm posted $0.55 EPS. As a group, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio is presently 147.80%.

Wall Street Analyst Weigh In

Several research firms recently commented on ENB. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. Finally, CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Read Our Latest Stock Report on Enbridge

Enbridge News Roundup

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Enbridge Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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