M&G PLC Buys 277,826 Shares of Enbridge Inc $ENB

M&G PLC grew its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.3% during the third quarter, Holdings Channel.com reports. The fund owned 2,215,296 shares of the pipeline company’s stock after purchasing an additional 277,826 shares during the quarter. M&G PLC’s holdings in Enbridge were worth $102,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC grew its stake in Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 267 shares during the period. GK Wealth Management LLC purchased a new stake in shares of Enbridge during the third quarter worth $25,000. Signature Equity Partners LLC boosted its position in shares of Enbridge by 476.5% in the third quarter. Signature Equity Partners LLC now owns 588 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 486 shares during the period. Quintet Private Bank Europe S.A. boosted its stake in Enbridge by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after buying an additional 300 shares during the period. Finally, City Holding Co. grew its stake in Enbridge by 121.5% in the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock worth $35,000 after buying an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ENB shares. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. The Goldman Sachs Group assumed coverage on Enbridge in a report on Wednesday, September 30th. They set a “neutral” rating and a $50.00 target price for the company. Raymond James Financial restated a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Wolfe Research set a $50.00 price target on Enbridge in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.88.

Enbridge Price Performance

NYSE ENB opened at $47.37 on Tuesday. The stock has a market capitalization of $105.59 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 5.86 and a beta of 0.59. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The business’s fifty day moving average price is $48.04 and its 200-day moving average price is $52.18. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 6th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $21.08 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. On average, equities analysts predict that Enbridge Inc will post 2.08 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a C$0.97 dividend. The ex-dividend date is Friday, November 13th. This represents a $3.88 dividend on an annualized basis and a yield of 8.2%. Enbridge’s dividend payout ratio is presently 134.80%.

Enbridge Profile

Enbridge Inc is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses.

Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.

Enbridge also invests in renewable power, including wind and solar projects, alongside its energy transportation and distribution operations.