Turtle Creek Wealth Advisors LLC Has $1.98 Million Holdings in Enbridge Inc $ENB

Turtle Creek Wealth Advisors LLC lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 298.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,217 shares of the pipeline company’s stock after acquiring an additional 29,377 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Enbridge were worth $1,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Westwood Holdings Group Inc. grew its holdings in shares of Enbridge by 83.1% during the 2nd 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. Mutual Advisors LLC raised its stake in shares of Enbridge by 25.3% in the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock valued at $2,338,000 after purchasing an additional 10,488 shares in the last quarter. 111 Capital bought a new position in Enbridge in the second quarter worth $1,887,000. Loudon Investment Management LLC lifted its position in Enbridge by 40.6% in the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after purchasing an additional 8,600 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in Enbridge by 37.7% during the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after buying an additional 19,655 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of recent research reports. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a research note on Friday. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Enbridge Stock Up 1.6%

Shares of NYSE ENB opened at $47.57 on Tuesday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The firm’s 50-day simple moving average is $47.46 and its 200 day simple moving average is $47.38. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The company has a market cap of $103.79 billion, a price-to-earnings ratio of 26.14 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 8.2%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

About Enbridge

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.