Legal & General Group Plc Raises Stake in Enbridge Inc $ENB

Legal & General Group Plc boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,677,864 shares of the pipeline company’s stock after purchasing an additional 858,323 shares during the period. Legal & General Group Plc’s holdings in Enbridge were worth $942,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Fin Capital Inc. boosted its stake in Enbridge by 1.3% in the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after buying an additional 213 shares in the last quarter. IHT Wealth Management LLC boosted its stake in Enbridge by 1.2% in the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after buying an additional 213 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Enbridge by 2.5% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 8,936 shares of the pipeline company’s stock valued at $427,000 after purchasing an additional 218 shares during the period. PFG Advisors boosted its stake in shares of Enbridge by 4.2% during the third quarter. PFG Advisors now owns 5,479 shares of the pipeline company’s stock valued at $276,000 after purchasing an additional 223 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Enbridge by 3.4% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,851 shares of the pipeline company’s stock valued at $328,000 after purchasing an additional 227 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $58.07 on Monday. The stock has a fifty day simple moving average of $54.21 and a two-hundred day simple moving average of $50.79. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a market cap of $126.80 billion, a price-to-earnings ratio of 27.26 and a beta of 0.59. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. Research analysts predict that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.7%. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada increased their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average target price of $66.50.

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.