World Investment Advisors Has $1.74 Million Stock Position in Enbridge Inc $ENB

World Investment Advisors raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 44.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,411 shares of the pipeline company’s stock after purchasing an additional 11,164 shares during the quarter. World Investment Advisors’ holdings in Enbridge were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in shares of Enbridge by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after acquiring an additional 221,976 shares during the last quarter. Trajan Wealth LLC raised its stake in shares of Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after acquiring an additional 106,784 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after acquiring an additional 24,165 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after acquiring an additional 41,601 shares during the last quarter. Finally, Viking Fund Management LLC raised its stake in shares of Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after acquiring an additional 61,500 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $55.31 on Friday. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $56.22. The firm has a market capitalization of $120.79 billion, a price-to-earnings ratio of 25.97 and a beta of 0.59. The company has a quick ratio of 0.55, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average of $53.88 and a 200-day moving average of $50.40.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the business earned $1.03 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.17 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given 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 7.0%. Enbridge’s payout ratio is 130.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on ENB shares. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus price target of $66.50.

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.