Northbridge Financial Group LLC Acquires Shares of 10,395 Enbridge Inc $ENB

Northbridge Financial Group LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel reports. The fund acquired 10,395 shares of the pipeline company’s stock, valued at approximately $497,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Intrust Bank NA boosted its stake in Enbridge by 4.8% during the 4th quarter. Intrust Bank NA now owns 18,068 shares of the pipeline company’s stock valued at $864,000 after acquiring an additional 830 shares during the last quarter. Harvest Portfolios Group Inc. lifted its holdings in Enbridge by 28.7% during the 4th quarter. Harvest Portfolios Group Inc. now owns 633,547 shares of the pipeline company’s stock worth $30,317,000 after buying an additional 141,326 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Enbridge by 20.5% during the 4th quarter. Larson Financial Group LLC now owns 16,632 shares of the pipeline company’s stock worth $796,000 after buying an additional 2,829 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Enbridge by 5.1% during the 4th quarter. ProShare Advisors LLC now owns 246,953 shares of the pipeline company’s stock worth $11,817,000 after buying an additional 11,878 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Enbridge by 0.9% during the 4th quarter. HighTower Advisors LLC now owns 612,618 shares of the pipeline company’s stock worth $29,303,000 after buying an additional 5,429 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ENB. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank Of Canada raised their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Trading Up 0.8%

Enbridge stock opened at $56.81 on Wednesday. The company has a market cap of $124.06 billion, a P/E ratio of 26.67 and a beta of 0.59. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $57.01. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm’s 50-day moving average is $53.98 and its 200-day moving average is $50.56.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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 business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the business posted $1.03 EPS. On average, equities analysts expect that Enbridge Inc will post 2.17 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.8%. Enbridge’s dividend payout ratio (DPR) is 133.80%.

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.