Enbridge Inc $ENB Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,887,411 shares of the pipeline company’s stock after selling 50,538 shares during the quarter. Federated Hermes Inc. owned approximately 0.22% of Enbridge worth $246,619,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ENB. IHT Wealth Management LLC increased its position in Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Enbridge by 1.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after purchasing an additional 215 shares during the period. Copperleaf Capital LLC boosted its holdings in shares of Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 217 shares during the last quarter. South Plains Financial Inc. boosted its stake in Enbridge by 13.2% in the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after buying an additional 220 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after acquiring an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 16th. Royal Bank Of Canada raised their price objective on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Weiss Ratings lowered Enbridge from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

Shares of NYSE ENB opened at $48.02 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a market capitalization of $104.76 billion, a price-to-earnings ratio of 26.38 and a beta of 0.68. The business has a 50-day moving average of $47.39 and a 200-day moving average of $47.52.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The company had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the firm posted $0.55 earnings per share. On average, equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared 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. This represents a $3.88 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is 147.80%.

About Enbridge

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.