Enbridge Inc $ENB Stock Holdings Lifted by Trajan Wealth LLC

Trajan Wealth LLC lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 15.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 804,261 shares of the pipeline company’s stock after acquiring an additional 106,784 shares during the quarter. Enbridge accounts for 1.8% of Trajan Wealth LLC’s portfolio, making the stock its 15th largest holding. Trajan Wealth LLC’s holdings in Enbridge were worth $40,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Enbridge during the 2nd quarter worth about $1,113,368,000. Canada Pension Plan Investment Board lifted its position in shares of Enbridge by 38.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock valued at $599,556,000 after acquiring an additional 3,687,334 shares in the last quarter. Vanguard Group Inc. boosted its stake in Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after purchasing an additional 3,217,961 shares during the period. Geode Capital Management LLC grew its position in Enbridge by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after purchasing an additional 2,989,992 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Enbridge during the 2nd quarter valued at $132,105,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. National Bank Financial reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research note on Thursday. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Trading Down 0.2%

Enbridge stock opened at $51.50 on Monday. Enbridge Inc has a one year low of $39.73 and a one year high of $54.19. The company’s fifty day moving average price is $48.39 and its two-hundred day moving average price is $48.19. The company has a market capitalization of $112.35 billion, a price-to-earnings ratio of 22.39 and a beta of 0.69. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

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

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a $0.97 dividend. The ex-dividend date is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.5%. Enbridge’s dividend payout ratio is presently 120.87%.

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.