Northeast Investment Management Acquires New Holdings in Enbridge Inc $ENB

Northeast Investment Management acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,700 shares of the pipeline company’s stock, valued at approximately $894,000.

A number of other hedge funds also recently made changes to their positions in ENB. Bank of Nova Scotia lifted its holdings in shares of Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after acquiring an additional 5,157,030 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Enbridge by 43.7% in the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after purchasing an additional 2,016,674 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Enbridge in the 3rd quarter valued at $88,407,000. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Enbridge by 48.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock valued at $232,477,000 after purchasing an additional 1,508,300 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ENB shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Seven investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Trading Up 0.7%

NYSE:ENB opened at $54.84 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $53.79 and a 200-day moving average price of $50.25. The stock has a market cap of $119.75 billion, a price-to-earnings ratio of 25.74 and a beta of 0.59. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $55.49.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period last year, the business earned $1.03 EPS. Equities analysts predict that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 130.52%.

Enbridge Company 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.