Enbridge Inc. (NYSE:ENB) Shares Purchased by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,513 shares of the pipeline company’s stock after acquiring an additional 419 shares during the period. Evergreen Wealth Management LLC’s holdings in Enbridge were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ENB. Wellington Management Group LLP boosted its holdings in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Vanguard Group Inc. boosted its stake in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Canada Pension Plan Investment Board grew its position in Enbridge by 36.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after purchasing an additional 2,814,200 shares during the last quarter. Mackenzie Financial Corp increased its stake in Enbridge by 13.9% in the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after purchasing an additional 2,756,079 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Enbridge by 11.3% in the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock valued at $689,270,000 after purchasing an additional 2,101,021 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ENB shares. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

Shares of Enbridge stock traded down $0.08 during trading on Friday, reaching $36.34. The company’s stock had a trading volume of 4,208,004 shares, compared to its average volume of 7,166,785. The business has a 50 day moving average price of $35.32 and a 200-day moving average price of $34.95. The company has a market capitalization of $77.26 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 3.43 and a beta of 0.83. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.45%. Enbridge’s dividend payout ratio (DPR) is 129.05%.

Enbridge Company Profile

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.