Fisher Asset Management LLC Acquires 11,273 Shares of Enbridge Inc $ENB

Fisher Asset Management LLC lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 160.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,284 shares of the pipeline company’s stock after purchasing an additional 11,273 shares during the quarter. Fisher Asset Management LLC’s holdings in Enbridge were worth $875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Enbridge by 2.1% in the 4th 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 in the last quarter. TD Asset Management Inc increased its stake in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after purchasing an additional 137,897 shares in the last quarter. Legal & General Group Plc raised its holdings in Enbridge by 4.6% in the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after buying an additional 858,323 shares during the last quarter. Scotia Capital Inc. raised its holdings in Enbridge by 2.1% in the third quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock worth $723,404,000 after buying an additional 300,391 shares during the last quarter. Finally, Amundi lifted its stake in shares of Enbridge by 3.2% in the third 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 in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ENB. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada increased their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

Shares of ENB opened at $54.75 on Friday. The firm has a market capitalization of $119.56 billion, a P/E ratio of 25.71 and a beta of 0.59. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45. The business has a fifty day moving average of $54.45 and a 200 day moving average of $51.09.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company 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 in the prior year, the company earned $1.03 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Enbridge 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.