Foundations Investment Advisors LLC Has $3.85 Million Position in Enbridge Inc $ENB

Foundations Investment Advisors LLC grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 24.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,385 shares of the pipeline company’s stock after acquiring an additional 15,706 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Enbridge were worth $3,845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. TD Asset Management Inc boosted its position in shares of Enbridge by 0.3% during the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after purchasing an additional 137,897 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Enbridge by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after purchasing an additional 1,415,995 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Enbridge by 4.6% in the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after buying an additional 858,323 shares during the period. Finally, Scotia Capital Inc. grew its holdings in shares of Enbridge by 2.1% in the 3rd quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock valued at $723,404,000 after buying an additional 300,391 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $54.75 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The company has a market capitalization of $119.56 billion, a price-to-earnings ratio of 25.71 and a beta of 0.59. The business’s 50-day moving average price is $54.45 and its two-hundred day moving average price is $51.09. Enbridge Inc has a 1 year low of $43.59 and a 1 year 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 period last year, the company earned $1.03 earnings per share. Equities analysts expect that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.