Enbridge Inc $ENB Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 252,111 shares of the pipeline company’s stock after purchasing an additional 26,469 shares during the period. Cerity Partners LLC’s holdings in Enbridge were worth $12,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Enbridge during the second quarter worth about $1,113,368,000. Canada Pension Plan Investment Board boosted its holdings in Enbridge by 38.7% during 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 buying an additional 3,687,334 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after acquiring an additional 3,217,961 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Enbridge in the 2nd quarter worth approximately $132,105,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research analyst reports. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Royal Bank Of Canada increased their price target on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Finally, Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

Enbridge stock opened at $45.66 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The business’s 50-day simple moving average is $47.49 and its 200 day simple moving average is $47.28. 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 stock has a market cap of $99.59 billion, a price-to-earnings ratio of 25.09 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed 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 is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio is presently 152.75%.

Enbridge Company 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.