Foster Victor Wealth Advisors LLC Acquires 10,878 Shares of Enbridge Inc $ENB

Foster Victor Wealth Advisors LLC increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,733 shares of the pipeline company’s stock after purchasing an additional 10,878 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Enbridge were worth $13,606,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. IHT Wealth Management LLC lifted its holdings in shares of 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. South Plains Financial Inc. increased its holdings in Enbridge by 13.2% in the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after acquiring an additional 220 shares during the last quarter. IFP Advisors Inc lifted its stake in Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after purchasing an additional 221 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Enbridge by 2.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 221 shares during the last quarter. Finally, New England Capital Financial Advisors LLC grew its position in shares of Enbridge by 21.0% during the second quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 223 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of Enbridge stock opened at $46.65 on Friday. The stock has a market cap of $101.75 billion, a price-to-earnings ratio of 25.63 and a beta of 0.68. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. The stock has a 50 day moving average price of $47.55 and a 200-day moving average price of $47.16. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results 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 company had revenue of $7 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $0.55 EPS. Equities analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be issued a $0.97 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 8.3%. Enbridge’s dividend payout ratio (DPR) is 147.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Zacks Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.00.

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.