D.A. Davidson & CO. Has $9.98 Million Holdings in Enbridge Inc $ENB

D.A. Davidson & CO. increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 184,328 shares of the pipeline company’s stock after acquiring an additional 14,349 shares during the quarter. D.A. Davidson & CO.’s holdings in Enbridge were worth $9,980,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ENB. Bank of New York Mellon Corp boosted its holdings in shares of Enbridge by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 6,782,732 shares of the pipeline company’s stock valued at $367,217,000 after purchasing an additional 319,575 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Enbridge by 0.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 36,349 shares of the pipeline company’s stock worth $1,968,000 after purchasing an additional 258 shares during the last quarter. Members Trust Co acquired a new position in shares of Enbridge in the first quarter worth approximately $210,000. Adell Harriman & Carpenter Inc. increased its position in shares of Enbridge by 0.9% during the first quarter. Adell Harriman & Carpenter Inc. now owns 114,691 shares of the pipeline company’s stock worth $6,209,000 after buying an additional 1,051 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in shares of Enbridge by 2.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 18,067 shares of the pipeline company’s stock valued at $978,000 after purchasing an additional 501 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.4%

Shares of Enbridge stock opened at $56.68 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The stock has a market capitalization of $123.79 billion, a PE ratio of 26.61 and a beta of 0.58. The company has a 50-day simple moving average of $55.64 and a two-hundred day simple moving average of $52.96. Enbridge Inc has a 52-week low of $44.53 and a 52-week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.8%. Enbridge’s payout ratio is currently 133.80%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. TD Securities reiterated a “hold” rating on shares of Enbridge in a research note on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

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.