Cullen Capital Management LLC Acquires 33,797 Shares of Enbridge Inc $ENB

Cullen Capital Management LLC raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,063,905 shares of the pipeline company’s stock after acquiring an additional 33,797 shares during the quarter. Cullen Capital Management LLC’s holdings in Enbridge were worth $50,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Trajan Wealth LLC increased its holdings in shares of Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after purchasing an additional 106,784 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after purchasing an additional 41,601 shares during the last quarter. Viking Fund Management LLC increased its holdings in shares of Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after purchasing an additional 61,500 shares during the last quarter. Third View Private Wealth LLC bought a new stake in shares of Enbridge in the fourth quarter worth about $3,691,000. Finally, Swiss Life Asset Management Ltd increased its holdings in shares of Enbridge by 19.2% in the third quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after purchasing an additional 44,524 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.0%

Shares of NYSE:ENB opened at $56.49 on Friday. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The business has a 50 day simple moving average of $54.83 and a two-hundred day simple moving average of $51.64. The firm has a market capitalization of $123.35 billion, a PE ratio of 26.52 and a beta of 0.58. 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 (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) 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 analyst estimates of $8.49 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, equities analysts predict that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is currently 133.80%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Royal Bank Of Canada lifted their price target on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.50.

About Enbridge

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.