ProShare Advisors LLC Boosts Stock Holdings in Enbridge Inc $ENB

ProShare Advisors LLC boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,953 shares of the pipeline company’s stock after purchasing an additional 11,878 shares during the period. ProShare Advisors LLC’s holdings in Enbridge were worth $11,817,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ENB. Tsfg LLC raised its stake in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares during the period. Triumph Capital Management purchased a new position in Enbridge during the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge during the third quarter worth approximately $28,000. Garner Asset Management Corp purchased a new position in Enbridge during the fourth quarter worth approximately $30,000. Finally, Imprint Wealth LLC purchased a new position in Enbridge during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ENB. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada raised their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

Shares of ENB stock opened at $57.78 on Friday. The company’s fifty day simple moving average is $54.13 and its 200-day simple moving average is $50.71. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.20. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a market cap of $126.18 billion, a PE ratio of 27.13 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $1.03 EPS. As a group, equities research analysts anticipate that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.7%. Enbridge’s payout ratio is 133.80%.

Enbridge Company 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.