MidFirst Bank Acquires Shares of 117,389 Enbridge Inc $ENB

MidFirst Bank bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 117,389 shares of the pipeline company’s stock, valued at approximately $5,615,000.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Enbridge during the 4th quarter worth $1,195,559,000. Bank of Nova Scotia boosted its stake in Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after buying an additional 5,157,030 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in Enbridge in the fourth quarter valued at about $132,705,000. Vanguard Group Inc. grew its position in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in Enbridge by 43.7% in the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after acquiring an additional 2,016,674 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $54.53 on Friday. The stock has a market capitalization of $119.08 billion, a price-to-earnings ratio of 25.60 and a beta of 0.58. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45. The stock’s 50 day moving average price is $54.91 and its two-hundred day moving average price is $51.87. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

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

Enbridge Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENB shares. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

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.