Shepherd Street Advisors LLC Buys Shares of 13,252 Enbridge Inc $ENB

Shepherd Street Advisors LLC bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,252 shares of the pipeline company’s stock, valued at approximately $634,000.

Several other large investors also recently added to or reduced their stakes in ENB. Norges Bank purchased a new stake in Enbridge in the 4th quarter valued at $1,195,559,000. Bank of Nova Scotia grew its holdings in Enbridge by 118.0% in the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after buying an additional 5,157,030 shares in the last quarter. Vanguard Group Inc. grew its holdings in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after buying an additional 2,067,516 shares in the last quarter. Raymond James Financial Inc. grew its holdings in Enbridge by 43.7% in the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after buying an additional 2,016,674 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Enbridge in the 3rd quarter valued at $88,407,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $56.34 on Wednesday. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The business’s fifty day simple moving average is $54.47 and its 200-day simple moving average is $51.16. The firm has a market cap of $123.04 billion, a PE ratio of 26.45 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the company posted $1.03 EPS. Equities analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.9%. Enbridge’s dividend payout ratio is presently 133.80%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ENB shares. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.