World Investment Advisors Buys 11,164 Shares of Enbridge Inc $ENB

World Investment Advisors increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 44.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,411 shares of the pipeline company’s stock after buying an additional 11,164 shares during the period. World Investment Advisors’ holdings in Enbridge were worth $1,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $39,000. Advisortrust Partners LLC acquired a new position in shares of Enbridge during the fourth quarter worth approximately $230,000. Auto Owners Insurance Co raised its position in shares of Enbridge by 4,683.0% during the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after purchasing an additional 8,387,721 shares during the period. Union Savings Bank bought a new position in shares of Enbridge in the 4th quarter worth $1,016,000. Finally, Bayban bought a new position in shares of Enbridge in the 4th quarter worth $116,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.0%

ENB stock opened at $54.53 on Friday. The firm has a market capitalization of $119.08 billion, a PE ratio of 25.60 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. The stock’s 50 day moving average is $54.92 and its 200-day moving average is $51.89.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion during 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 posted $1.03 earnings per share. Sell-side analysts expect that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. Enbridge’s dividend payout ratio is presently 133.80%.

Analyst Upgrades and Downgrades

ENB has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.