Fisher Asset Management LLC Buys 11,273 Shares of Enbridge Inc $ENB

Fisher Asset Management LLC grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 160.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,284 shares of the pipeline company’s stock after buying an additional 11,273 shares during the period. Fisher Asset Management LLC’s holdings in Enbridge were worth $875,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tsfg LLC raised its stake in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares during the period. Triumph Capital Management purchased a new position in Enbridge during the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge in the third quarter worth approximately $28,000. Garner Asset Management Corp bought a new position in shares of Enbridge in the fourth quarter worth approximately $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Enbridge in the third quarter worth $31,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of NYSE ENB opened at $54.75 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The company has a market cap of $119.56 billion, a P/E ratio of 25.71 and a beta of 0.59. The firm’s fifty day moving average is $54.45 and its two-hundred day moving average is $51.09. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $1.03 EPS. As a group, analysts anticipate that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. Enbridge’s dividend payout ratio is presently 133.80%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Royal Bank Of Canada boosted their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.