Pathfinder Wealth Consulting Inc. Invests $541,000 in Enbridge Inc $ENB

Pathfinder Wealth Consulting Inc. purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 11,311 shares of the pipeline company’s stock, valued at approximately $541,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. TD Asset Management Inc raised its holdings in shares of Enbridge by 0.3% during the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after purchasing an additional 137,897 shares during the period. Scotia Capital Inc. raised its holdings in shares of Enbridge by 2.1% during the third quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock worth $723,404,000 after purchasing an additional 300,391 shares during the period. Amundi lifted its position in shares of Enbridge by 3.2% in the 3rd quarter. Amundi now owns 9,638,460 shares of the pipeline company’s stock worth $479,706,000 after buying an additional 295,942 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Enbridge by 118.0% in the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 0.5%

ENB stock opened at $58.07 on Friday. The stock has a market cap of $126.80 billion, a PE ratio of 27.26 and a beta of 0.59. The firm’s 50-day simple moving average is $54.21 and its 200 day simple moving average is $50.76. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

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

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.7%. Enbridge’s payout ratio is currently 133.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ENB. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.