D.A. Davidson & CO. Increases Holdings in Enbridge Inc $ENB

D.A. Davidson & CO. increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 184,328 shares of the pipeline company’s stock after acquiring an additional 14,349 shares during the period. D.A. Davidson & CO.’s holdings in Enbridge were worth $9,980,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ENB. Vanguard Group Inc. raised its holdings in shares of Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. Norges Bank acquired a new stake in Enbridge in the 4th quarter valued at about $1,195,559,000. Geode Capital Management LLC increased its holdings in Enbridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after buying an additional 1,415,995 shares during the last quarter. Legal & General Group Plc raised its holdings in Enbridge by 4.6% during the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after purchasing an additional 858,323 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 4.9% in the fourth quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company’s stock valued at $870,577,000 after acquiring an additional 844,594 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

NYSE ENB opened at $56.68 on Friday. 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 52-week low of $44.53 and a 52-week high of $58.45. The company has a 50 day simple moving average of $55.64 and a 200-day simple moving average of $52.96. The firm has a market capitalization of $123.79 billion, a price-to-earnings ratio of 26.61 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the previous year, the firm posted $1.03 earnings per share. Equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is currently 133.80%.

Analysts Set New Price Targets

Several research firms have recently commented on ENB. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Royal Bank Of Canada increased their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

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.