Union Savings Bank Purchases New Stake in Enbridge Inc $ENB

Union Savings Bank acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,244 shares of the pipeline company’s stock, valued at approximately $1,016,000.

Several other hedge funds have also added to or reduced their stakes in ENB. Triumph Capital Management bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge in the 3rd quarter worth approximately $28,000. Inspire Investing LLC purchased a new position in Enbridge in the fourth quarter valued at approximately $29,000. Imprint Wealth LLC purchased a new position in Enbridge in the third quarter valued at approximately $31,000. Finally, Garner Asset Management Corp purchased a new position in Enbridge in the fourth quarter valued at approximately $30,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ENB shares. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Royal Bank Of Canada upped their price target on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

Shares of ENB stock opened at $54.53 on Friday. The firm’s 50 day moving average is $54.92 and its 200 day moving average is $51.89. The stock has a market capitalization of $119.08 billion, a P/E ratio of 25.60 and a beta of 0.58. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45. 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 released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business 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 period in the previous year, the business earned $1.03 EPS. On average, sell-side analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. 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.