Davis Rea LTD. Purchases 107,571 Shares of Enbridge Inc $ENB

Davis Rea LTD. increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 99.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,100 shares of the pipeline company’s stock after buying an additional 107,571 shares during the period. Enbridge accounts for approximately 2.6% of Davis Rea LTD.’s holdings, making the stock its 12th biggest position. Davis Rea LTD.’s holdings in Enbridge were worth $10,904,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Whipplewood Advisors LLC lifted its position in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the last quarter. Highline Wealth Partners LLC grew its position in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Enbridge in the second quarter worth about $29,000. True Wealth Design LLC lifted its position in shares of Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 500 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Enbridge during the 2nd quarter valued at approximately $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on ENB shares. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Up 0.5%

Shares of ENB stock opened at $46.79 on Friday. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The stock has a fifty day moving average price of $47.47 and a 200 day moving average price of $47.31. The stock has a market cap of $102.08 billion, a P/E ratio of 25.71 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 posted $0.55 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 8.3%. This is a boost 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 (DPR) is currently 147.80%.

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.