Veriti Management LLC Has $1.05 Million Stake in Enbridge Inc. (NYSE:ENB)

Veriti Management LLC boosted its position in Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,721 shares of the pipeline company’s stock after buying an additional 1,550 shares during the period. Veriti Management LLC’s holdings in Enbridge were worth $1,047,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. lifted its holdings in Enbridge by 10.2% in the fourth quarter. Natixis Advisors L.P. now owns 82,219 shares of the pipeline company’s stock valued at $3,213,000 after buying an additional 7,604 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Enbridge by 22.3% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 34,199 shares of the pipeline company’s stock valued at $1,361,000 after purchasing an additional 6,241 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Enbridge by 3.8% during the fourth quarter. D.A. Davidson & CO. now owns 180,618 shares of the pipeline company’s stock valued at $7,058,000 after purchasing an additional 6,630 shares during the period. Thomasville National Bank raised its holdings in shares of Enbridge by 3.6% during the fourth quarter. Thomasville National Bank now owns 601,018 shares of the pipeline company’s stock valued at $23,488,000 after purchasing an additional 20,817 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in shares of Enbridge by 93.4% during the fourth quarter. Benjamin Edwards Inc. now owns 7,821 shares of the pipeline company’s stock valued at $306,000 after purchasing an additional 3,777 shares during the period. Institutional investors and hedge funds own 53.23% of the company’s stock.

Shares of ENB stock opened at $41.25 on Thursday. Enbridge Inc. has a 52-week low of $36.21 and a 52-week high of $47.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.68. The company has a 50-day simple moving average of $44.62 and a two-hundred day simple moving average of $42.98. The company has a market capitalization of $83.59 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.84 and a beta of 0.77.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last issued its quarterly earnings data on Friday, May 6th. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enbridge had a return on equity of 10.40% and a net margin of 12.20%. The firm had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the company posted $0.62 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 2.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date was Thursday, May 12th. Enbridge’s payout ratio is 116.16%.

Several equities analysts have recently weighed in on ENB shares. Royal Bank of Canada upped their price objective on shares of Enbridge from C$60.00 to C$65.00 in a report on Monday, May 9th. Morgan Stanley upped their price objective on shares of Enbridge from C$60.00 to C$67.00 in a report on Tuesday, April 26th. Scotiabank upped their price objective on shares of Enbridge from C$58.00 to C$62.00 in a report on Tuesday, April 19th. TD Securities upped their price objective on shares of Enbridge from C$61.00 to C$62.00 in a report on Monday, May 9th. Finally, US Capital Advisors reissued an “overweight” rating on shares of Enbridge in a research report on Wednesday, June 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $57.42.

Enbridge Company Profile (Get Rating)

Enbridge Inc 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.

Further Reading

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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