Enbridge Inc $ENB Shares Purchased by Bollard Group LLC

Bollard Group LLC raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,621 shares of the pipeline company’s stock after buying an additional 15,173 shares during the quarter. Bollard Group LLC’s holdings in Enbridge were worth $11,620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Triumph Capital Management acquired a new stake in shares of Enbridge during the third quarter valued at about $26,000. Turning Point Benefit Group Inc. acquired a new position in shares of Enbridge in the third quarter worth $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge in the 4th quarter valued at about $29,000. Garner Asset Management Corp acquired a new position in shares of Enbridge during the fourth quarter worth $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Enbridge during the third quarter worth $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of ENB stock opened at $56.84 on Friday. The firm has a fifty day moving average of $55.73 and a two-hundred day moving average of $53.24. Enbridge Inc has a 1-year low of $44.58 and a 1-year high of $58.45. The firm has a market cap of $124.13 billion, a P/E ratio of 26.68 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 released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the firm earned $1.03 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.13 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.8%. Enbridge’s dividend payout ratio is 133.80%.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. TD Securities reissued a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.50.

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.