111 Capital Purchases Shares of 14,301 Enbridge Inc $ENB

111 Capital purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, Holdings Channel.com reports. The fund purchased 14,301 shares of the pipeline company’s stock, valued at approximately $684,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in Enbridge during the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. acquired a new stake in Enbridge during the third quarter worth approximately $28,000. Garner Asset Management Corp acquired a new stake in Enbridge during the fourth quarter worth approximately $30,000. Imprint Wealth LLC acquired a new stake in Enbridge during the third quarter worth approximately $31,000. Finally, Tucker Asset Management LLC acquired a new stake in Enbridge during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ENB. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Royal Bank Of Canada boosted their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Finally, Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Down 0.7%

Enbridge stock opened at $56.34 on Friday. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. 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 company has a market capitalization of $123.04 billion, a P/E ratio of 26.45 and a beta of 0.58. The stock has a 50-day simple moving average of $54.65 and a 200-day simple moving average of $51.37.

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 the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the business earned $1.03 EPS. Equities research analysts expect that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is 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.