Kimelman & Baird LLC Grows Stake in Enbridge Inc. (NYSE:ENB)

Kimelman & Baird LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 48.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,220 shares of the pipeline company’s stock after purchasing an additional 1,370 shares during the period. Kimelman & Baird LLC’s holdings in Enbridge were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ENB. Orion Portfolio Solutions LLC raised its holdings in Enbridge by 19.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 46,267 shares of the pipeline company’s stock valued at $1,879,000 after buying an additional 7,406 shares during the period. National Bank of Canada FI increased its position in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. Brookfield Corp ON raised its stake in shares of Enbridge by 5,337.9% in the third quarter. Brookfield Corp ON now owns 989,969 shares of the pipeline company’s stock valued at $40,203,000 after acquiring an additional 971,764 shares during the period. Insigneo Advisory Services LLC lifted its holdings in shares of Enbridge by 10.3% in the 3rd quarter. Insigneo Advisory Services LLC now owns 13,367 shares of the pipeline company’s stock worth $544,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Enbridge by 27.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 26,997 shares of the pipeline company’s stock worth $1,080,000 after purchasing an additional 5,806 shares during the period. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ENB. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Enbridge stock opened at $43.14 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $93.96 billion, a PE ratio of 19.97, a P/E/G ratio of 4.30 and a beta of 0.94. The company has a 50 day moving average price of $41.89 and a 200-day moving average price of $39.11. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the prior year, the business earned $0.46 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.21%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

About Enbridge

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.