Verity & Verity LLC Has $27.41 Million Holdings in Enbridge Inc $ENB

Verity & Verity LLC grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 573,160 shares of the pipeline company’s stock after purchasing an additional 17,353 shares during the period. Enbridge comprises about 2.1% of Verity & Verity LLC’s holdings, making the stock its 13th largest position. Verity & Verity LLC’s holdings in Enbridge were worth $27,414,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ENB. Tsfg LLC increased its position in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Enbridge during the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. acquired a new position in shares of Enbridge during the 3rd quarter valued at about $28,000. Garner Asset Management Corp acquired a new position in shares of Enbridge during the 4th quarter valued at about $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Enbridge during the 3rd quarter valued at about $31,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENB. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Performance

ENB opened at $54.75 on Friday. The firm has a market capitalization of $119.56 billion, a P/E ratio of 25.71 and a beta of 0.59. The stock’s 50 day moving average price is $54.45 and its two-hundred day moving average price is $51.09. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the firm posted $1.03 EPS. On average, equities analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is 133.80%.

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.