Enbridge Inc $ENB Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,159 shares of the pipeline company’s stock after purchasing an additional 62,313 shares during the quarter. Metis Global Partners LLC’s holdings in Enbridge were worth $14,638,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. IHT Wealth Management LLC grew its position in shares of Enbridge by 1.2% during the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after buying an additional 213 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after acquiring an additional 215 shares in the last quarter. Copperleaf Capital LLC boosted its stake in Enbridge by 3.6% during the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 217 shares during the last quarter. South Plains Financial Inc. grew its holdings in Enbridge by 13.2% during the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after acquiring an additional 220 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Enbridge by 2.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock worth $395,000 after acquiring an additional 221 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $51.85 on Friday. 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 business has a 50 day moving average of $47.84 and a two-hundred day moving average of $47.89. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $52.17. The company has a market cap of $113.12 billion, a P/E ratio of 28.49 and a beta of 0.69.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 7.5%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is presently 147.80%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENB. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Royal Bank Of Canada boosted their price target on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

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.