Fifth Third Wealth Advisors LLC lifted its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 43.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,257 shares of the pipeline company's stock after acquiring an additional 6,123 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Enbridge were worth $860,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the 2nd quarter valued at about $28,000. McIlrath & Eck LLC raised its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after buying an additional 295 shares in the last quarter. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge in the 3rd quarter valued at $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Down 0.8 %
Shares of ENB traded down $0.36 during mid-day trading on Thursday, hitting $43.98. 4,936,622 shares of the company traded hands, compared to its average volume of 3,386,162. The company has a market capitalization of $95.79 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average of $42.68 and a 200 day moving average of $40.45. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.74.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business posted $0.46 EPS. Equities research analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.
Enbridge Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.09%. Enbridge's dividend payout ratio (DPR) is 121.76%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ENB. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday. They set a "buy" rating for the company. Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $63.00.
Check Out Our Latest Stock Analysis on ENB
About Enbridge
(
Free Report)
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
Further Reading
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for February 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
