MAI Capital Management Has $5.44 Million Stake in Enbridge Inc $ENB

MAI Capital Management increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 275.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,824 shares of the pipeline company’s stock after purchasing an additional 79,106 shares during the period. MAI Capital Management’s holdings in Enbridge were worth $5,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tsfg LLC raised its holdings in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the last quarter. Highline Wealth Partners LLC increased its position 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 acquiring an additional 236 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Enbridge during the second quarter worth about $29,000. True Wealth Design LLC raised its holdings in shares of Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Enbridge in the 2nd quarter valued at about $31,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Trading Down 0.3%

Shares of Enbridge stock opened at $52.25 on Friday. The firm has a market cap of $114.00 billion, a PE ratio of 22.72 and a beta of 0.69. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $54.19. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The stock has a fifty day moving average price of $48.81 and a 200-day moving average price of $48.32.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The company had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. Equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.4%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is currently 120.87%.

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.