MAI Capital Management Purchases 79,106 Shares of Enbridge Inc $ENB

MAI Capital Management lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 275.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,824 shares of the pipeline company’s stock after acquiring an additional 79,106 shares during the quarter. MAI Capital Management’s holdings in Enbridge were worth $5,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Tsfg LLC boosted its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares during the period. Highline Wealth Partners LLC lifted its stake in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares in the last quarter. True Wealth Design LLC boosted its holdings in Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares during the period. Financial Gravity Companies Inc. purchased a new position in Enbridge in the 2nd quarter valued at approximately $29,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Enbridge during the 2nd quarter valued at $31,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $52.25 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $54.19. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The company has a market cap of $114.00 billion, a PE ratio of 22.72 and a beta of 0.69. The stock has a 50-day moving average price of $48.81 and a 200-day moving average price of $48.32.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The business had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the firm posted $0.75 earnings per share. As a group, equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.4%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is presently 120.87%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ENB shares. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada upped their price target on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

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.