Enbridge Inc $ENB Shares Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,170,678 shares of the pipeline company’s stock after purchasing an additional 71,014 shares during the period. Enbridge comprises 1.7% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 16th biggest position. Miller Howard Investments Inc. NY’s holdings in Enbridge were worth $63,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ENB. Cidel Asset Management Inc. increased its stake in Enbridge by 5.8% during the 1st quarter. Cidel Asset Management Inc. now owns 48,768 shares of the pipeline company’s stock worth $2,635,000 after buying an additional 2,673 shares in the last quarter. Certified Advisory Corp purchased a new position in shares of Enbridge in the first quarter valued at approximately $211,000. Clear Trail Advisors LLC lifted its position in shares of Enbridge by 47.9% in the first quarter. Clear Trail Advisors LLC now owns 54,078 shares of the pipeline company’s stock valued at $2,928,000 after acquiring an additional 17,504 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Enbridge by 14.7% in the first quarter. Brookstone Capital Management now owns 84,068 shares of the pipeline company’s stock worth $4,551,000 after acquiring an additional 10,752 shares during the last quarter. Finally, Everstar Asset Management LLC boosted its stake in shares of Enbridge by 4.6% in the first quarter. Everstar Asset Management LLC now owns 7,420 shares of the pipeline company’s stock worth $402,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Royal Bank Of Canada lifted their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Trading Up 1.7%

Shares of ENB opened at $55.71 on Wednesday. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The firm has a market capitalization of $121.65 billion, a P/E ratio of 26.15 and a beta of 0.58. The firm has a 50-day moving average price of $54.95 and a 200 day moving average price of $52.02. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the previous year, the firm earned $1.03 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is presently 133.80%.

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.