Enbridge Inc $ENB Shares Bought by Creekmur Asset Management LLC

Creekmur Asset Management LLC grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 21.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,829 shares of the pipeline company’s stock after acquiring an additional 13,045 shares during the quarter. Enbridge comprises approximately 0.6% of Creekmur Asset Management LLC’s portfolio, making the stock its 26th biggest position. Creekmur Asset Management LLC’s holdings in Enbridge were worth $3,776,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. IHT Wealth Management LLC boosted its stake in Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the period. HBK Sorce Advisory LLC increased its stake in Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 215 shares during the period. Copperleaf Capital LLC raised its holdings in shares of Enbridge by 3.6% in the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock valued at $319,000 after buying an additional 217 shares during the last quarter. South Plains Financial Inc. raised its holdings in shares of Enbridge by 13.2% in the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after buying an additional 220 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of Enbridge by 2.9% during the third quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock worth $395,000 after buying an additional 221 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

NYSE ENB opened at $53.17 on Friday. The stock has a market capitalization of $116.00 billion, a price-to-earnings ratio of 23.12 and a beta of 0.69. The business’s 50 day moving average is $48.95 and its two-hundred day moving average is $48.37. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $54.19. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Tuesday, February 17th. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is presently 120.87%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Royal Bank Of Canada lifted their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Finally, Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Company Profile

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.