Brian Low Financial Group LLC Raises Position in Enbridge Inc $ENB

Brian Low Financial Group LLC increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 201.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,845 shares of the pipeline company’s stock after buying an additional 10,581 shares during the quarter. Brian Low Financial Group LLC’s holdings in Enbridge were worth $800,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ENB. Norges Bank bought a new stake in shares of Enbridge in the 2nd quarter worth about $1,113,368,000. Canada Pension Plan Investment Board lifted its stake in Enbridge by 38.7% in the second quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock worth $599,556,000 after purchasing an additional 3,687,334 shares during the last quarter. Vanguard Group Inc. lifted its stake in Enbridge by 3.5% in the second quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after purchasing an additional 3,217,961 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Enbridge by 20.2% during the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after buying an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Enbridge during the second quarter valued at approximately $132,105,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $47.52 on Friday. The firm has a 50 day moving average of $47.54 and a 200 day moving average of $47.18. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $103.66 billion, a price-to-earnings ratio of 26.11 and a beta of 0.68. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter in the prior year, the company posted $0.55 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.2%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio is presently 147.80%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ENB. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Zacks Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average price target of $63.00.

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.