Foster Victor Wealth Advisors LLC Boosts Stock Position in Enbridge Inc $ENB

Foster Victor Wealth Advisors LLC raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 271,733 shares of the pipeline company’s stock after buying an additional 10,878 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Enbridge were worth $13,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. IHT Wealth Management LLC boosted its stake in shares of Enbridge by 1.2% during the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after purchasing an additional 213 shares during the period. South Plains Financial Inc. lifted its holdings in Enbridge by 13.2% during the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after buying an additional 220 shares in the last quarter. IFP Advisors Inc lifted its holdings in Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after buying an additional 221 shares in the last quarter. AdvisorNet Financial Inc boosted its position in Enbridge by 2.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after buying an additional 221 shares during the period. Finally, New England Capital Financial Advisors LLC grew its stake in Enbridge by 21.0% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company’s stock worth $58,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.2%

Shares of NYSE ENB opened at $46.65 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The stock’s fifty day simple moving average is $47.55 and its two-hundred day simple moving average is $47.16. The stock has a market capitalization of $101.75 billion, a PE ratio of 25.63 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter last year, the company earned $0.55 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a dividend yield of 8.3%. Enbridge’s payout ratio is currently 147.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ENB shares. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enbridge in a research report on Monday, December 15th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge 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.