Federated Hermes Inc. Acquires 208,779 Shares of Enbridge Inc (NYSE:ENB)

Federated Hermes Inc. boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,852,261 shares of the pipeline company’s stock after purchasing an additional 208,779 shares during the period. Federated Hermes Inc. owned about 0.22% of Enbridge worth $215,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Capital Investment Counsel Inc grew its position in Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Enbridge by 0.7% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock valued at $1,526,000 after purchasing an additional 226 shares in the last quarter. Loudon Investment Management LLC grew its position in Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after purchasing an additional 240 shares in the last quarter. Hardin Capital Partners LLC grew its position in Enbridge by 2.7% in the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock valued at $423,000 after purchasing an additional 252 shares in the last quarter. Finally, Investors Research Corp grew its position in Enbridge by 9.5% in the first quarter. Investors Research Corp now owns 3,051 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $44.65 on Tuesday. Enbridge Inc has a twelve month low of $36.50 and a twelve month high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The company has a 50-day simple moving average of $45.41 and a two-hundred day simple moving average of $44.52. The stock has a market capitalization of $97.35 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 4.19 and a beta of 0.79.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. During the same quarter in the previous year, the company earned $0.92 EPS. Analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge 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.