Brookfield Corp ON grew its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 5,337.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 989,969 shares of the pipeline company's stock after acquiring an additional 971,764 shares during the period. Brookfield Corp ON's holdings in Enbridge were worth $40,203,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of ENB. Richardson Financial Services Inc. boosted its holdings in Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company's stock worth $45,000 after purchasing an additional 246 shares in the last quarter. Associated Banc Corp raised its stake in shares of Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company's stock valued at $288,000 after acquiring an additional 248 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Enbridge by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company's stock worth $608,000 after purchasing an additional 256 shares during the last quarter. First PREMIER Bank boosted its position in Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company's stock worth $631,000 after purchasing an additional 257 shares during the period. Finally, Keudell Morrison Wealth Management raised its position in shares of Enbridge by 1.4% in the third quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company's stock valued at $822,000 after purchasing an additional 277 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.
ENB has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. 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 upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $63.00.
Get Our Latest Stock Analysis on Enbridge
Enbridge stock opened at $43.14 on Friday. The stock has a fifty day moving average price of $41.84 and a two-hundred day moving average price of $39.05. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.13. The firm has a market capitalization of $93.95 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.30 and a beta of 0.94.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current fiscal year.
The business 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 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is currently 121.76%.
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.
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