Turtle Creek Wealth Advisors LLC Purchases 29,377 Shares of Enbridge Inc $ENB

Turtle Creek Wealth Advisors LLC boosted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 298.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,217 shares of the pipeline company’s stock after buying an additional 29,377 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Enbridge were worth $1,979,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC grew its holdings in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the period. Highline Wealth Partners LLC grew its stake in shares of Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 236 shares during the period. Financial Gravity Companies Inc. bought a new stake in Enbridge in the second quarter valued at about $29,000. True Wealth Design LLC lifted its stake in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after buying an additional 500 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Enbridge during the second quarter worth about $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.6%

Shares of ENB stock opened at $47.57 on Tuesday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The firm has a fifty day moving average of $47.46 and a 200-day moving average of $47.38. The company has a market capitalization of $103.79 billion, a price-to-earnings ratio of 26.14 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a return on equity of 10.51% and a net margin of 9.20%.During the same period in the previous year, the company posted $0.55 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This is a boost from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.2%. Enbridge’s dividend payout ratio is 147.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENB. Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating in a research note on Friday. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Enbridge 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.