Enbridge Inc $ENB Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 71.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 492,221 shares of the pipeline company’s stock after buying an additional 205,215 shares during the period. Harvest Portfolios Group Inc.’s holdings in Enbridge were worth $24,832,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. lifted its stake in shares of Enbridge by 83.1% during the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock worth $104,284,000 after purchasing an additional 1,044,093 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after purchasing an additional 221,976 shares during the period. Trajan Wealth LLC lifted its position in shares of Enbridge by 15.3% during the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after purchasing an additional 106,784 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after purchasing an additional 24,165 shares during the period. Finally, Aviva PLC boosted its stake in shares of Enbridge by 6.7% in the second quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock valued at $80,959,000 after purchasing an additional 112,305 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $53.17 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $116.00 billion, a price-to-earnings ratio of 23.12 and a beta of 0.69. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $54.19. The business has a 50 day simple moving average of $48.95 and a 200-day simple moving average of $48.36.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared 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 of this dividend is Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 7.3%. Enbridge’s dividend payout ratio (DPR) is presently 120.87%.

Analysts Set New Price Targets

A number of brokerages have commented on ENB. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Finally, Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

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.