ProShare Advisors LLC Grows Holdings in Enbridge Inc $ENB

ProShare Advisors LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,953 shares of the pipeline company’s stock after buying an additional 11,878 shares during the period. ProShare Advisors LLC’s holdings in Enbridge were worth $11,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the period. TD Asset Management Inc increased its stake in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after buying an additional 137,897 shares during the period. Scotia Capital Inc. increased its stake in Enbridge by 2.1% during the 3rd quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock worth $723,404,000 after buying an additional 300,391 shares during the period. Amundi increased its stake in Enbridge by 3.2% during the 3rd quarter. Amundi now owns 9,638,460 shares of the pipeline company’s stock worth $479,706,000 after buying an additional 295,942 shares during the period. Finally, Bank of Nova Scotia increased its stake in Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $57.78 on Friday. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $58.20. The firm has a fifty day moving average of $54.13 and a two-hundred day moving average of $50.71. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market cap of $126.18 billion, a P/E ratio of 27.13 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same period in the previous year, the business posted $1.03 EPS. As a group, research analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders 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 annualized dividend and a dividend yield of 6.7%. Enbridge’s payout ratio is 133.80%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ENB. Royal Bank Of Canada raised their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.